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Senate Democrats: Republican tax plan would have devastating impact on Connecticut

State Senate Majority Leader Bob Duff (D-25), center, speaks Tuesday about the Republican tax plan.

NORWALK, Conn. – This is a press release, presented in the format in which it was sent:

 

HARTFORD, CT – Senate President Pro Tempore Martin Looney (D-New Haven), Senate Majority Leader Bob Duff (D-Norwalk), members of the Senate Democratic Caucus and Connecticut realtors today highlighted the Republican Tax Plan and its devastating impact, including tax increases on the middle class and damage to home values.

“The Republican tax plan would be a catastrophe for Connecticut,” said Senator Looney. “The national Republican tax plan gives huge handouts to the super-rich, while Connecticut residents will be forced to pick up the bill. It is estimated that more than 300,000 Connecticut households will see a tax increase under the GOP’s plan.”

“This Thanksgiving, Republicans in Congress are serving up tax increases for Connecticut’s middle-class and homeowners,” said Senator Duff. “The Republican tax plan all but eliminates tax incentives for homeownership at a time when the market is strong and when we are seeing multiple buyers bid on a property. There is no surer way to slam the door on a hot real estate market than passing the Republican tax plan.”

Connecticut REALTORS President Michael Barbaro said, “Connecticut REALTORS are very concerned over the proposed GOP tax reform bills in the U.S. Congress.  Due to the high costs of purchasing a home and property taxes in our state, Connecticut will be impacted particularly hard.  Removing or even reducing tax incentives critical to home ownership such as the mortgage interest deduction and the property tax deductions will have an immediate negative impact on our real estate market.”

Barbaro continued, “These changes can also decrease home values; this will drive many existing homeowners further underwater.  Along with the National Association of REALTORS, we remain steadfast in our opposition to any taxation that furthers harms real estate.”

“This plan cuts deep into the pockets of Connecticut residents, including middle class families, students who want to attend college, seniors on Medicare, and the disabled, just to name a few,” said Senator Tim Larson (D-East Hartford). “We’re here today to speak up on behalf of the people of our state stand against the Republican tax plan in Washington.”

Additionally, Republicans in the United State Senate have included provision in their version of the bill to repeal the Affordable Care Act’s individual mandate and increase the number of uninsured Americans by 13 million.

“The Republican tax plan being considered in Washington is going to make health care more expensive for many middle-class families, while simultaneously raising taxes on them so they have less money with which to pay those increased medical bills,” said Senator Terry Gerratana (D-New Britain. “This so-called tax reform is nothing but a gift for the wealthiest one percent, financed by middle-class and working families in Connecticut and around the country. Washington Republicans should reject this plan, go back to the drawing board and work on a bipartisan basis like we did here in Connecticut.”

The United States House of Representatives voted last week 227-205 to approve the Republican Tax Plan with 13 Republicans joining every Democrat in voting against it. The Senate is considering its own version.

“I represent a very economically diverse district. But this plan manages to hurt people on all sides of the economic scale whether they are from Bridgeport, Trumbull, or Monroe,” said Senator Marilyn Moore (D-Bridgeport). “By gutting the state and local tax deductions, Connecticut homeowners making between $50,000 and $200,000 would pay 14% more in taxes under the republican plan. It hurts seniors by slashing tax credits for people retired on disability. It eliminates work opportunity credits for veterans and youth. To me, it looks like Republicans are not interested in doing what’s best for the working people of our state. They just want to protect the wealthiest among us.”

 

 

 

This press release was posted as a public service. A press release is a written announcement submitted to news organizations to publicize an event or activity, a milestone or a point of view. NancyOnNorwalk has not researched the assertions made and takes no responsibility for the content.

7 comments

Sue Haynie November 24, 2017 at 6:59 am

Connecticut allows only a $200 deduction for property taxes on State returns.

The Connecticut Democrats are like the tax Mafia; they’re mad because the Feds are stepping on their turf.

Per the NYT article 11/22/17: “A report this month from Fitch, the credit rating firm, warned that repealing the state and local tax deduction would hit residents especially hard in states such as California, Connecticut, Massachusetts, New Jersey and New York. That could put pressure on state governments to reduce taxes.”

Good news, maybe this will eliminate the talk of a Local Property Tax.

Mr. Duff, fyi, Norwalk house values, except for Rowayton, have decreased or been stagnate for the last several years even though property taxes continue to rise. Several people in my area of town had such a difficult time trying to sell their houses, they took them off the market.

Bryan Meek November 24, 2017 at 9:45 am

There are valid concerns about some of the tax reform proposals.

But this chicken little routine coming from the very people who have passed tax and spend policies that have obliterated the state’s finances, depressed local real estate values, and raced the state to the bottom of almost every economic category…..it”s a bit much to take.

Not affiliated November 24, 2017 at 11:00 am

@bryan Meek

Yes, it’s hard to support these folks who Monday morning quarterback on party lines while this once thriving state, sits at the near bottom on many economic measures. I’m surprised their comments didn’t include that the tax benefits will support misogynists, white supremecists who are islamaphobes.

Donna Smirniotopoulos November 24, 2017 at 1:01 pm

Agree state democrats opposition to the Trump tax plan is disingenuous at best, especially after passing a SEBAC agreement that has the state’s {…} for be next ten years.
Edited to remove a vulgarity.

Bill Dunne November 24, 2017 at 1:54 pm

How stupid do Looney, Duff & Co. think Connecticut voters are? They are the people who have made Connecticut an economic basket case (and smothered property values) with their relentless tax increases, and suddenly they see a problem with somebody else (purportedly) wanting to raise taxes. That’s very funny. Sue Haynie has it right with the mafia comparison.

Danny November 27, 2017 at 5:44 pm

With respect to the housing market, all you have to do is watch 20 Sasqua Road. We are being told that the market is better than 2-3 years ago, right? Then explain to me why this particular home for example, which is in the exact same condition as it was 2-3 years ago, which was sold in that timeframe at $1.275M, was put on the market in February of this year for $1.299M with no bites – now a price drop to $1.250M in August, still with no bites …. is just the opposite of what we are being told?

Again, this is just one example. I can give plenty, but this one is perfect because it nails down the timeframe perfectly of “things improved over the past 2-3 years” … No they haven’t.

In my honest opinion, I feel this is propaganda to make us all feel good for the election cycle. Then it all calms down. Rinse and Repeat.

It’s maddening.

I love Bob, know him well, but i’m becoming increasingly skeptical of our politicians lately. Mayor Rilling, to me, has been a straight shooter in my eyes and hope this continues.

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NancyOnNorwwalk.com was conceived as the place to go for Norwalk residents to get the real, unvarnished story about what is going on in and around their city. NancyOnNorwalk does not intend to be a print newspaper online; rather, it exists to pull the curtain back and shine a spotlight on how Norwalk is run and what is happening regarding issues that have an impact on taxpayers’ pocketbooks and safety. As an independent site, NancyOnNorwalk’s first and only allegiance is to the reader.

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Nancy came to Norwalk in September 2010 and, after reporting on Norwalk for two years for another company, resigned to begin Nancy On Norwalk so she engage in journalism the way it was meant to be done. She is married to career journalist Mark Chapman, has a son, Eric (the artist and web designer who built this website), and two cats – a middle-aged lady and a young hottie who are learning how to peacefully co-exist.