House Republican Press Release

January 9, 2007

Press Office: 860-240-8700

REP. CHAPIN BACKS INITIATIVES TO PROVIDE TAX RELIEF FOR  NEW MILFORD SENIORS AND SMALL BUSINESSES

HARTFORD---Senior citizens and small businesses in New Milford would see tax breaks through a proposal supported by State Rep. Clark Chapin. Under a series of initiatives presented at the start of the Legislature’s 2007 Session, Rep. Chapin joined fellow House Republican legislators in backing a legislative package which includes tax breaks for seniors and businesses.

 Regarding tax breaks for seniors, pensions would be exempt from state income taxes. “Connecticut is one of only four states that provide no type of tax breaks on pensions for our seniors. It’s time we corrected such an injustice to make it easier for our senior citizens to remain here if that’s where they choose to be,” Representative Chapin said.

 Additionally, the proposal would eliminate the state’s $250 minimum business entity tax. According to the Department of Revenue Services (DRS), more than 850 businesses in New Milford pay this tax. Under the current tax structure, ‘Mom and Pop’ stores pay the same tax for opening their doors as huge corporations.

 “Small business is the backbone of our local economy. We should be supportive of and encouraging entrepreneurship and our small businesses, not charging them for the privilege to exist,” Chapin added.