Hartford, Conn. (WTIC Radio) - The state's financial condition supports a tax cut for struggling middle class families, bi-partisan Connecticut lawmakers said.
Democrat Sean Scanlon chairs the tax-writing Finance Revenue and Bonding Committee. He favors a 40-percent tax cut for those earning under 100-thousand dollars.
"It would cost 300-million out of a $46 billion state budget. That 300 million will mean the world to about 500,000 people," Scanlon explained.
Republican Vincent Candelora favors targeted tax cuts, he said.
"One of the things I'm critical of is the state continues to take care of the poor and very wealthy and the middle class is left paying the bill," he said.
Connecticut has been helped by billions in federal funding. According to Scanlon, that places the state in a good position to offer these cuts.
Candelora agrees but he said he thinks the state needs to consider serious long-term planning.
The Governor's Office reports the state has a $1.5 billion surplus and the Rainy Day portion is fully-funded.
However, 86,000 state residents are still searching for jobs and the state owes $850 million for the unemployment fund, according to state officials.