David Michel

Time is running out for local high school seniors to fill out a free college application that can get them automatically admitted to certain Connecticut colleges and universities. If you're intrigued, please read below to learn more about the program and the upcoming application deadline.

I will be hosting a forum on a bill that would allow the use of psilocybin, which is a substance found in magic mushrooms, for medicinal and therapeutic purposes. You will find more information on the bill and public forum below.

Here are the sections in today's email:

• Tax Relief Measures in 2024
• Free College Application & Admission
• Psilocybin Informational Forum at the Capitol

As a result of fiscal responsibility and bipartisanship in 2023, I am pleased to announce that significant relief is on the way for many Connecticut taxpayers in 2024!

Three tax relief measures went into effect on January 1, including the largest income tax cut in state history, an increase in a tax credit aimed at the lowest-income workers, and an expansion of exemptions on certain pension and annuity earnings that will benefit the senior population.

Here's a closer look at the tax cuts, who specifically benefits, and how:

One million filers to benefit from income tax cuts:

The changes enacted in 2024 will see a decrease in the two lowest rates:

• The 3% rate on the first $10,000 earned by single filers and the first $20,000 by joint filers will drop to 2%.
• The 5% rate on the next $40,000 earned by single filers and the next $80,000 by joint filers will drop to 4.5%.

The relief targets middle-class tax filers and is capped at $150,000 for single filers and $300,000 for joint filers. This is the first time that rates have been reduced in the state since the mid-1990s and it represents the largest income tax cut enacted in state history. 

For more information, single filers click here. For joint filers, click here.

Connecticut’s Earned Income Tax Credit (EITC) for low-income workers becomes one of the largest in the U.S. 

The EITC in Connecticut is increasing from 30.5% to 40% of the federal EITC and will provide an additional $44.6 million in state tax credits to the approximately 211,000 low-income filers who receive the credit. More than 95% of filers who receive this credit are families with children.

The Connecticut EITC is a refundable state income tax credit for the lowest income working individuals and families that mirrors the federal EITC.

Expanding certain deductions for IRA distributions and pension and annuity earnings for seniors

The state budget eliminates the retirement income tax cliff by adding a phase-out for allowable pension annuity and IRA distribution deductions against the personal income tax.

Approximately 200,000 filers benefit from the currently enacted retiree exemption limits. It is estimated that with these changes, an additional 100,000 filers could benefit from the elimination of the retirement cliff via the exemption phase-out.

The following colleges and universities are participating in the program:

• University of Bridgeport in Bridgeport
• Western Connecticut State University in Danbury
• Southern Connecticut State University in New Haven
• University of New Haven in New Haven
• Central Connecticut State University in New Britain
• Mitchell College in New London
• University of St. Joseph in West Hartford
• Goodwin University in East Hartford
• Eastern Connecticut State University in Willimantic

Graduating seniors in the top 30% of their class, as identified by their individual high school counselors, are eligible.

Applying for college can be an intimidating, time-consuming, and expensive process. But with the Automatic Admission Program, applying for some of our great state schools is more accessible than ever - evening the playing field for all applicants, particularly first-generation, low-income, and minority students.

You’re invited to join me as I host an informational forum on a bill that would allow the use of psilocybin for medicinal and therapeutic purposes as well for physical, mental, or behavior health care. Psilocybin is a substance found in magic mushrooms. The drug can be used to treat depression, post-traumatic stress disorder, and other conditions.

The forum will be held on Wednesday, January 10 at 10:00 A.M. in room 1D of the Legislative Office Building in Hartford. I introduced this bill last year, and my hope is my colleagues in the House and Senate can push this proposal passed the finish line in 2024.

Last year, the House passed a different measure, which decriminalizes the possession of small amounts of psilocybin, but the Senate did not vote on the proposal. CLICK HERE to learn more about that bill.