Research by Connecticut Voices for Children:
USE The Rainy Day Fund!!!!!!!!
By law, Connecticut is required to deposit into its Budget Reserve Fund (BRF)—also known as the Rainy Day Fund—all revenue exceeding $3.15 billion from the combination of two sources, the business entity tax and the estimates and final payments of the personal income tax. 27 The Rainy Day Fund stood at $2.5 billion (or 13 percent of total appropriations) at the end of fiscal year 2019.
FIX — CT’s Regressive Tax Structure
Based on a 2014 report from the Connecticut Department of Revenue Services—the most recent analysis available—Connecticut has a regressive tax system. ….The effective tax rate, which is the rate actually imposed on a household in total state and local taxes, ranges from 23.6 percent for households making less than $48,000 to 6.3 percent for households making more than $13.2 million a year.
Government Needs To Spend to Keep People and Economy HEALTHY
First: In managing the recession, the Connecticut government should immediately use the Budget Reserve Fund to establish a state emergency relief program, to increase government capacity and accountability, and to maintain government spending more generally.
Second: After years of restricting the size of the state workforce, the Connecticut government should increase its capacity as well as its accountability and oversight to ensure that all new emergency relief programs are administered in a timely and appropriate manner.