State Senator Kevin Kelly (R- Stratford) applauded the Governor’s proposal to lower the tax rate on insurance premiums.
“I first would like to commend Governor Malloy for his efforts to support Connecticut’s insurance industry, and help reduce the many obstacles and burdens that Connecticut companies face,” said Sen. Kelly.
The governor’s proposal would drop the tax rate on insurance premiums from 1.75 percent to 1.5 percent.
“In December I hosted an insurance forum at the capitol and many of the insurance stakeholders had the opportunity to voice their support to reduce the tax rate on insurance premiums. This proposal has the ability to help the jobs climate in our state, which will ultimately benefit middle-class families throughout Connecticut.
We must work hard and stay vigilant to preserve Connecticut’s role as the insurance capital of the world, and this is a good first step,” said Sen. Kelly.
Senator Kevin Kelly currently serves as the Co-Chair of the Insurance and Real Estate Committee.