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|Date added||January 14, 2021|
|Category||COVID, Economic Opportunity, Massachusetts Economy, White Papers|
By Andrew Mikula and Greg Sullivan
Date: January 2021
Connecticut’s embrace of an aggressive tax policy to pay for ballooning government expenditures — including a sharp corporate tax rate increase — has been a major driver in the loss of bedrock employers. Higher corporate tax rates, combined with hikes in the personal income tax and, especially, the estate tax, also appear to be a factor driving away a growing number of the state’s wealthiest residents.