Newly-elected State Representative Ben McGorty (R-122) unveiled a plan to exempt Social Security pension benefits from the state income tax. Under current law, those receiving Social Security benefits who make more than $50,000 if single and $60,000 if married are taxed for 25% of their total receipts.
“The high cost of living in Connecticut is one of the chief reasons people are fleeing our state, and our tax policies are especially punishing for those who wish to retire,” said McGorty. “It’s time to reverse the policies which have made our state inhospitable to those who wish to live out their golden years in the same state they raised their families and lived their lives. This measure is a good start.”