Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Taxation-State and Local
Responding To The Pandemic: A Case Study, Richard Pomp
Responding To The Pandemic: A Case Study, Richard Pomp
Faculty Articles and Papers
This article describes how Connecticut, despite catching a fiscal break from the pandemic, has failed to seize the opportunity to enact meaningful reform targeted at its $90 billion debt.
The article begins by explaining why Connecticut fared well during the pandemic. Many wealthy taxpayers moved into Connecticut from New York City. The increase in their stock-market driven income taxes, as well the sales tax boost from secondary and tertiary purchases by homebuyers, has eliminated Connecticut’s short-term budget deficit. The State is sitting on a $3 billion rainy-day fund.
Next, the article examines several tensions between the democratic governor, Ned Lamont, …