The proposed bill, General Assembly Proposed Bill No. 39, aims to amend chapter 229 of the general statutes by introducing a requirement for the indexing of income thresholds for the personal income tax. Specifically, the bill mandates that these income thresholds be adjusted in accordance with any changes in the consumer price index. This adjustment is intended to ensure that the tax system remains equitable and reflective of inflationary changes in the economy.

The bill does not specify any deletions from current law but focuses solely on the insertion of the new requirement for indexing income thresholds. By linking the thresholds to the consumer price index, the bill seeks to prevent taxpayers from being pushed into higher tax brackets due to inflation, thereby maintaining the purchasing power of individuals and families.