Connecticut Laughs Ruefully <br>As Its Tax Haul Collapses <br>25 Years After Income Levy
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Connecticut residents who remember the enactment of the state income tax in 1991 can only laugh ruefully as state government’s revenue collapses again, this time largely on account of falling receipts from the income tax.
Twenty-six years ago the tax’s advocates declared that the income tax would stabilize revenue and be much more reliable than other taxes. But now receipts from other taxes are holding up far better than those from the income tax.
A login link has been sent to
Enter your email to read this article.
Get 2 free articles when you subscribe.
or
Have an account? This is also a sign-in form.
By continuing you agree to our Privacy Policy and Terms of Service.
