HARTFORD, Conn. – A panel of experts in tax law, tax accounting, tax policy, economics and business finance convened for the first time Monday to start the process of examining the state’s tax code for the first time in 25 years.
“The world economy has changed,” Finance, Revenue, and Bonding Committee Co-Chairwoman Patricia Widlitz said. “The way we do business has changed and it just occurred to us that instead of tweaking the system we really need to do an in-depth study.”
Sen. John Fonfara, the other co-chairman of the committee, joked that the room full of lobbyists are hoping that none of the changes to the tax code that may be considered “ever happen.”
The last time the legislature took a comprehensive look at its tax code was back in 1989-90. One of the chairs of that panel was Bill Cibes, who once chaired the Finance, Revenue, and Bonding Committee.
See the complete story at CT News Junkie.
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