Some legislative Democrats are considering a new capital gains tax on Connecticut’s highest earners, instead of following through with some of Gov. Ned Lamont’s proposed sales tax changes.
Democratic Rep. Jason Rojas of East Hartford on Thursday told WTIC-AM he expects the General Assembly’s Finance Revenue and Bonding Committee will hold a public hearing, possibly on April 26, on a proposed new 2 percent tax on capital gains income earned by wealthy taxpayers.
The tax could generate about $262 million annually, he said; the state already taxes capital gains, but Rojas’ proposed tax would only apply to those in the top tax bracket.
Rojas said it’s an option lawmakers should consider, as it could give them the option of forgoing some of Lamont’s more contentious tax changes, such as imposing sales taxes on college text books and veterinary services.
Lamont has opposed raising the marginal rates of Connecticut’s personal income tax.