Gov. Ned Lamont is proposing $336 million in tax cuts in this year's budget.

The cuts include a drop in the car tax for 18 towns and cities. The areas include Ansonia, Bridgeport, Stratford, Woodbridge and Torrington. Towns and cities would be reimbursed for all lost revenue.

The proposal comes one day after officials announced that Connecticut has a surplus of more than $1.4 billion and a strong rainy-day fund.

Lamont's plan also includes increasing the property tax credit to $300 and expanding eligibility.

The student loan credit would also expand.