Democrats Want Tax Exemption for Retired Veterans

HARTFORD, Conn. (WTNH)- State democrats unveiled a plan today, that would give retired veterans a 100% exemption from the state income tax for federally taxable military retirement pay. Right now the law gives a 50% exemption for retired members of the U.S. Army, Navy, Air Force, Marines, Coast Guard, and Army and Air National Guard.

“Passing this bill will demonstrate Connecticut’s great appreciation for the service and sacrifice of our nation’s veterans by providing a one hundred percent exemption from the state income tax for federally taxable military retirement pay,” said President M. Looney, Senate President, (D) New Haven. “I believe we can and should do better to help our veterans transition back into civilian life here in Connecticut.”

Many other states already offer this type of exemption, including Massachusetts and New York.

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