State Budget & Tax Package Passed by House, Includes Additional State Aid to Norwalk
by Chris Perone
May 1, 2006

State Representative Chris Perone (D-Norwalk) announces an increase in the state budget for Norwalk of $453,350 in state aid (including ECS, PILOT, TAR and other statutory grants) over and above what the Governor proposed in her February budget address. Norwalk also receives an additional $324,031 in special education.

Residents will see a reduction in their state income tax liability with an increase in the property tax credit to $500. The credit can be applied against property taxes paid on cars or homes.

"This budget increases state dollars for Norwalk, there are no new taxes and makes long term investments that will save taxpayers money," said Rep. Perone. "It's a win-win scenario. Instead of decreasing money for programs like TAR, money was actually put in for that program. Norwalk will receive the money it needs to provide necessary town services."

The state budget surplus of approximately $660 million was used mainly to pay down long term debt, increase the balance in the Rainy Day Fund and fully fund the teachers' retirement fund through 2007. Additional surplus dollars were also used to increase state aid to cities and towns. Other major investments were made in the HUSKY children’s healthcare program, as well as in job creation and economic development initiatives.

Tax cuts for business include the elimination of the corporate tax surcharge for 2007 and a phase out of the property tax paid on manufacturing equipment.

Christopher Perone is serving his first term as State Representative from the 137th Assembly District. He is a member of the Environment, Higher Education and Transportation committees.

###