Each November, in accordance with state statute, the Connecticut General Assembly's Office of Fiscal Analysis produces a Fiscal Accountability Report. According to statute, the report must explain: (1) the level of spending changes from current year spending allowed by consensus revenue estimates, (2) any changes to current year spending necessary because of “fixed cost drivers,” and (3) the total change to current year spending required to accommodate fixed cost drivers without exceeding current revenue estimates.
The DIY Revenue Calculator is an online, interactive tool provided by the Office of the State Comptroller, which allows users to calculate the approximate impact tax changes would have on overall state revenue. Using the DIY Revenue Calculator, users can 1) specify changes in existing state tax rates, 2) eliminate existing state tax exemptions and credits, and 3) implement new state taxes and fees to change the estimated amount and sources of state revenue.