Gov. M. Jodi Rell’s decision last week to offer a new budget plan moved the state closer to a final deal.
Rell proposed raising taxes on millionaires, eliminating the inheritance tax and cutting the sales tax from 6 percent to 5.5 percent. She also agreed to eliminate her proposed 10-percent temporary corporate surcharge on small to medium-sized businesses.
Rell’s plan would raise the state income tax to 6.5 percent on couples earning more than $1 million per year and individuals earning more than $500,000 per year. The maximum rate is currently 5 percent.
