skip to main content
skip to newscasts

Tuesday, June 25, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Opponents of latest AR state tax cuts say they benefit wealthy Arkansans; Julian Assange agrees to a plea deal that would allow him to avoid imprisonment in US; Tech-based carbon-capture projects make headway in local government; NV nonprofit calls Biden's student debt initiatives economic justice.

view newscast page
play newscast audioPlay

Charges against fake electors in Nevada are dismissed, Milwaukee officials get ready to expect the unexpected at the RNC convention, and the Justice Department says Alaska is violating the Americans with Disabilities Act.

view newscast page
play newscast audioPlay

A Minnesota town claims the oldest rural Pride Festival while rural educators say they need support to teach kids social issues, rural businesses can suffer when dollar stores come to town and prairie states like South Dakota are getting help to protect grasslands.

Report: CT should consider eliminating costly film tax credit

play audio
Play

Thursday, April 4, 2024   

A new report found Connecticut might be better off without its film industry tax credit.

The Connecticut Voices for Children report showed the film industry tax credit costs the state more than $60 million dollars a year, which means between 2007 and 2023, the state lost around $900 million.

Patrick O'Brien, research and policy director at Connecticut Voices for Children and author of the report, said it plays into the state's regressive tax system because it is not targeted to low and middle-income families.

"If you're spending about $106 million a year in these film industry tax credits moving forward, only a portion of that is going to ultimately be passed to low and middle-income families within Connecticut," O'Brien pointed out. "A substantial portion of it is likely to be exported out of state entirely."

O'Brien's research does not examine whether the tax credit is worth salvaging but suggested eliminating it would help the state recover the revenue beginning next year. The General Assembly has been weighing legislation to end the tax credit. Though the bill met staunch opposition at a public hearing from people who believe it is good for the state, it has garnered support from Rep. Jason Rojas, D-East Hartford, the House majority leader. The bill awaits committee action.

What would the state do with the money? One suggestion is to put it toward funding a state child tax credit. Many organizations have been calling on lawmakers to establish one. O'Brien noted doing so can economically benefit families and the state.

"Because a state-level child tax credit is so well-targeted, it means that it's going to go entirely to low and middle-income families within the state," O'Brien emphasized. "We know the main driver of economic growth is essentially consumer spending."

It is estimated more than $41 million of the almost $106 million on the film industry tax credits for 2025 could provide support for the bottom 92% of Connecticut households. The report suggested several ways to accomplish it, though using this pot of funding alone might not help as many people as the proposed $600 expanded child tax credit would.

Disclosure: Connecticut Voices for Children contributes to our fund for reporting on Budget Policy & Priorities, Children's Issues, Education, and Juvenile Justice. If you would like to help support news in the public interest, click here.


get more stories like this via email
more stories
Of the 17 states that have enacted music therapy legislation, 11 have placed the law in its own statute chapter, and others have grouped it with other forms of therapy. (Adobe Stock)

Social Issues

play sound

Advocates in Wyoming trying to get music therapy licensure recognized in the state are hitting roadblocks. Members of the Wyoming Music Therapy …


play sound

A new report finds New York City environmental-justice communities face worsening air quality. It's part of the Community Heat and Air Mapping …

Environment

play sound

By Ysabelle Kempe for SmartCitiesDive.Broadcast version by Eric Galatas for Colorado News Connection reporting for the Solutions Journalism Network-Pu…


Environment

play sound

Electric-vehicle owners in North Dakota have long called for more action to boost the state's charging station network. There continues to be mixed …

Around 62% of Michigan households own a pet. Almost 42% of them own a dog and 31% own a cat.
(Drobot Dean/Adobe Stock)

Environment

play sound

Animal lovers and activists in Michigan are celebrating proposed legislation to protect animals and save taxpayers money. Senate Bill 657 and Senate …

Social Issues

play sound

The latest Maryland School Breakfast Report finds tens of thousands fewer kids are being served post COVID. The end of pandemic era waivers two …

Social Issues

play sound

A controversial new law is set to take effect next week, requiring Hoosiers to upload sensitive documents, including driver's licenses and Social …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021