AARP Connecticut Testimony to members of the Finance, Revenue & Bonding Committee

AARP Connecticut provided members of the Finance, Revenue & Bonding Committee with testimony in regards to Proposed SB 6 (an Act Exempting Social Security Income from the Personal Income Tax), Proposed HB 6558 (an Act Exempting Social Security Benefits from the Personal Income Tax) and Proposed HB 5587 (an Act Concerning a Tax Exemption for Seniors’ Social Security Benefits).

The testimony of AARP State Director Nora Duncan follows:

Finance, Revenue & Bonding Committee
March 3, 2017
Testimony of AARP CT
Submitted by Nora Duncan, State Director

Support for:
• Proposed SB No. 6:  AN ACT EXEMPTING SOCIAL SECURITY INCOME FROM THE PERSONAL INCOME TAX.
• Proposed HB No. 6558: AN ACT EXEMPTING SOCIAL SECURITY BENEFITS FROM THE PERSONAL INCOME TAX
• Proposed HB No. 5587:  AN ACT CONCERNING A TAX EXEMPTION FOR SENIORS' SOCIAL SECURITY BENEFITS

AARP is a nonpartisan, social mission organization with an age 50+ membership of nearly 38 million nationwide, and approximately 600,000 members here in Connecticut. AARP supports livable communities for all ages, aging in place initiates and financial opportunity and resiliency for everyone as they work, age and retire.  We are before the General Assembly every year on a multitude of bills that support these issues.

The three proposed bills that exempt Social Security from the personal income tax in Connecticut would help make the Nutmeg State a friendlier place to live and retire independently.  These are popular proposals that would impact many positively.  They should be a part of the larger budget considerations, along with support for important programs that help vulnerable seniors age-in-place and keep people out of nursing homes, positively impacting tax payers by keeping seniors off of Medicaid, as well as supporting family caregivers. Furthermore, programs and policies that help individuals of all ages save for retirement via payroll deduction at work should be protected and promoted so that financial resiliency is achievable for many more in the years ahead. 

Thank you for your consideration.