Advocacy Updates

Many private schools across Connecticut object to a bill to eliminate tax exemptions for faculty and staff housing for private secondary schools, saying they already contribute to the towns where they're located and this could affect their operations.

The finance committee proposed a 1.75% surcharge on capital gains earnings on individuals making over $1 million and couples over $2 million.

It took nearly 10 hours, but the Appropriations Committee approved a draft of a two-year, 2026-27 state budget Tuesday that represents an increase over the one proposed by Gov. Ned Lamont in February.

Measure to phase out car tax also passes but faces uphill climb.

Faced with a slumping economy and likely big cuts in federal aid, state legislators are once again weighing whether to turn delinquent taxpayers over to collection agencies — and block renewal of their driver’s licenses or vehicle registrations.

Leaders in the Connecticut arts and humanities fields, who drive a large part of the state’s tourism industry, warned of the “devastating” effects that the Trump administration’s decision to slash arts funding will have on them Thursday afternoon at the Legislative Office Building in Hartford.

Connecticut will join 11 other states in suing the Trump administration to halt what Attorney General William Tong called the president’s “lawless” tariff policies, Tong announced Wednesday afternoon.

Businesses previously buoyed by easy credit and low interest rates now face tightening liquidity, higher borrowing costs and strained supply chains.

Michael Faulkender, who was confirmed as deputy Treasury secretary at the end of March, will serve as acting IRS commissioner — the fourth since President Donald Trump took office Jan. 20.

The Financial Accounting Foundation (FAF) annual report details its activities throughout 2024, highlighting how FASB and GASB engage with stakeholder groups to create and improve GAAP. The report includes an update to FAF’s 2022 strategic plan and includes perspectives from FAF leadership.

For the first half of his career in law enforcement, working as a police officer in South Florida, Chase Fopiano did not think cyberattacks on police agencies were a serious threat.

The American Institute of CPAs (AICPA) is signaling its strong support for bipartisan legislation to establish the accounting profession as a career pathway through Science, Technology, Engineering and Math (STEM). H.R. 2911, the Accounting STEM Pursuit Act, introduced by Representatives Young Kim (R-CA) and Haley Stevens (D-MI), would allow K-12 grant funding to be used for accounting education, with a focus on improving access for underrepresented students. This will help ensure future leaders are highly skilled and prepared to meet the public's evolving needs.