Legislation watch
2007 House Bill 4801: Repeal income tax exemption for government pension
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- Introduced by Rep. Chris Ward (R) on May 17, 2007, to repeal the income tax deductibility of state, school or local government pension benefits. In other words, the pensions of retired state and local government workers would no longer be exempt from state income tax, as the are under current law. The bill is part of a government pension reform package comprised of House Bills 4799 to 4809.
- Referred to the House Oversight And Investigations Committee on May 17, 2007.
- Reported in the House on May 22, 2007, without amendment and with the recommendation that the bill pass.
- Referred to the House Oversight And Investigations Committee on October 9, 2007.
- Referred to the House Oversight And Investigations Committee on May 17, 2007.
Comments
1) feel the pain by Anonymous Citizen on October 1, 2007It's too bad the "govenor" doesn't feel the pain of her own decisions....she continuously drives the state into depression and when she's done living in our mansion....she'll run back to Canada and retire at our expense---it's a shame
Seriously? Budget Balancing on the backs of all the poor and retired?
Have you read through the bills?
Your pension will still be fully deductable up to $81,840 for a maried filer and $40,920 for a single filer...and the deductable amount will go up each year with inflation.
If your pension is more than that I think you can afford to pay taxes on the difference.
The real poor of the state will thank you when the extra money can be put to use providing them with essential services like food and health care.
Reported out of committee with a recommendation to pass... Now we get to find out how many of our legislators have thrown their moral compass out the window and will vote to balance the bloated State budget on the backs of retirees and people on fixed incomes!
The irony is that these same people will one day be retired and will suddenly realize they've shot themselves in the foot.
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