Oppose Repeal of Retirement Income Tax Relief In SB 877

The Governor’s revenue proposal repeals the phase out of relief from income taxation for retirees who rely on social security, pensions and annuity income.

The repeal of this income tax relief places a disproportionate burden on Connecticut's retirees.   There continues to be a negative impact from the accumulated proposed tax increases to lower and middle-income retirees who already struggle because of our high cost of living or who might choose to leave Connecticut for the same reason. 

Retirees and those who are close to retirement, the age 50+ residents that are thinking about where to live and where to retire, make up 37 percent of the state's population. Yet their total economic contribution to the Gross State Product is 47 percent and they support 49 percent of state and local taxes

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