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HB 5133

AN ACT INCREASING THE HIGHEST MARGINAL RATE OF THE PERSONAL INCOME TAX.

2026 Regular Session Introduced by Patrick Biggins and 36 co-sponsors

Connecticut bill increases the highest marginal personal income tax rate to generate additional state revenue, currently in committee review.

PUBLIC HEARING 0227
#incometax(state)
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Bill Summary · HB 5133

Legislative bill overview

HB 5133 proposes to increase Connecticut's highest marginal personal income tax rate, though the specific new rate is not detailed in the available information. The bill is currently in the early legislative stage, having been referred to the Joint Committee on Finance, Revenue and Bonding with a public hearing scheduled for late February 2026.

Why is this important

Connecticut faces ongoing budget pressures and pension obligations, making revenue generation a persistent policy challenge. Changes to the top marginal tax rate directly affect high-income earners and the state's overall tax revenue, with potential implications for economic competitiveness, income inequality, and public service funding.

Potential points of contention

  • Economic competitiveness concerns: Connecticut already has relatively high income taxes; increasing the top rate could prompt high-income residents or businesses to relocate to lower-tax states
  • Revenue expectations vs. reality: The actual revenue generated depends on behavioral responses (whether high earners leave or reduce income) and may fall short of projections
  • Progressive vs. regressive debate: Supporters argue higher taxes on top earners promote fairness; opponents contend it places excessive burden on successful earners and job creators

Compiled from official sources — confirm details with the bill’s official record.

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