This afternoon House Republican Leader Larry Cafero (R-Norwalk) and members of the House Republican caucus unveiled their “Extending a Helping Hand” plan to bring targeted tax relief directly to middle class Connecticut residents. The plan will assist those who have been hit hardest by increasing energy and health care costs.
“I believe we can and must provide immediate and meaningful help for those struggling to make ends meet, whether it is staying warm in the winter or offsetting rising health care costs,” said Cafero.
The House Republicans proposed to:
Provide maximum income tax credits of up to $500 per household for joint filers earning up to $150,000 or home heating assistance;
Provide similar maximum $500 income tax credits to offset out-of-pocket medical costs.
Approximately 91% of individual residents and 84% of all families would benefit directly from both the energy and health care credit, and it will be paid for out of the approximately $263 million budget surplus the state is running.
Long Term Investment in Fuel Cells
House Republicans also proposed a long-term investment in fuel cells by dedicating $50 million each year over the next four years in bonding to create a Fuel Cell program which promotes economic, energy and environmental freedom. The state would contract with a Connecticut business to mass produce transit buses powered by fuel cells and begin transitioning over to using fuel cells at Bradley International Airport to make Bradley the first “Green” International Airport in the world. The plan would also establish two or three hydrogen refueling hubs in the state.
House Republicans also offered a proposed calendar for the items to be acted on by the legislature, creating a deadline of March 19th so residents can save on their tax returns this year.