Connecticut Lawmakers Pass Budget Extending Corporate Surtax

Both chambers of the Connecticut General Assembly finished passing a two-year budget late Tuesday, extending the state’s 10% surtax on highly profitable corporations that was set to expire at the end of the current fiscal year.

The House of Representatives passed the $55 billion budget Monday for fiscal years 2026 and 2027 by a vote of 99-49, and the Senate voted 25-11 to approve it Tuesday. Gov. Ned Lamont (D) plans to sign the spending package, H.B. 7287, once it’s transmitted to his office, a spokesperson said in a Tuesday statement.

The newly passed bill extends Connecticut’s 10% corporate ...