Tell Your Senator To VOTE No on New Taxes
The Kentucky General Assembly just passed a tax bill that will cause a big tax increase for many older Kentuckians and their families.Kentuckians who have high health care costs would face a serious risk of a big tax increase just because of their medical expenses. This is because the legislature passed a bill to eliminate Kentucky’s medical expense deduction.The legislature also voted to increase taxes on hard earned and hard saved retirement income from 401k plans, pensions, and IRAs. Now, Kentuckians will be taxed on every penny saved over $31,100.This tax reform is an unbalanced approach that will unfairly burden retirees, many of whom have endured significant losses to their retirement savings in the economic recession and simply do not have time or ability to adjust their retirement savings strategy to make up for those losses. Unfairly taxing retirement income will take money out of the pockets of Kentucky seniors – money that is needed to cover basic necessities like groceries, prescription drugs and utility bills.Similarly, deducting medical expenses such as for wheelchairs, prescription drugs, and home care costs makes a huge difference to middle-class families.Please tell your senator to pass legislation that will prevent these big tax increases by keeping the medical expense deduction and reinstating the $41,110 tax exemption on retirement income.
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Dear [Decision Maker],
I am writing in opposition to provisions in the tax reform bill (HB 366). I am opposed to raising taxes on older Kentuckians and their families. Eliminating the medical tax deduction and lowering the taxation threshold for retirement income (401K, pensions, IRA) from $41,110 to $31,110 will hurt the quality of life for retirees and their families, particularly those who suffer from high medical costs. Nearly three-quarters of tax filers who claim the medical expense deduction are age 50 or older and live with a chronic condition or illness.
Respectfully,[Your Name] [Your Address] [City, State ZIP][Your Email]