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Tax Relief for Michigan Retirees copy
After a record state budget and with $7 billion remaining on the table from the School Aid and General Fund, I encourage you to take action and REPEAL the tax on retirement income that has burdened Michigan seniors and retirees for the past decade.
When the state government was facing a budget deficit in 2011, Public Act 38 reduced a promised, long-standing income tax exemption for pension income based on pensioners’ birthdates. State officials estimated that taxing senior and retiree pensions would bring in hundreds of millions of dollars, which proved accurate. A number of bills have been introduced since 2011 on both sides of the aisle to reduce, reform, or repeal the tax on retirement income, but the tax continues.
It is time now, when state coffers are full, for policymakers to return some of the current surplus to seniors and retirees who helped bail the state out during tough budgetary times.
Put the State Surplus Towards Tax Relief for Retirees
It is time now --with this record state budget and $7 billion remaining on the table-- for policymakers to repeal the tax on retirement income.
When the state government was facing a budget deficit in 2011, Public Act 38 reduced a promised, long-standing income tax exemption for pension income based on pensioners’ birthdates. State officials estimated that taxing senior and retiree pensions would bring in hundreds of millions of dollars, which proved accurate. A number of bills have been introduced since 2011 on both sides of the aisle to reduce, reform, or repeal the tax on retirement income, but the tax continues.
As a member of the Michigan Association of Retired School Personnel, I urge you to take action in support of tax relief for the seniors and retirees who helped bail the state out during tough budgetary times.
Tax Relief for Retirees
With $7 billion remaining on the table after state budget negotiations, I urge you to provide tax relief to the seniors and retirees who helped bail the state out of tough budgetary times for the past decade.
When the state government was facing a budget deficit in 2011, Public Act 38 reduced a promised, long-standing income tax exemption for pension income based on pensioners’ birthdates. State officials estimated that taxing senior and retiree pensions would bring in hundreds of millions of dollars, which proved accurate. A number of bills have been introduced since 2011 on both sides of the aisle to reduce, reform, or repeal the tax on retirement income, but the tax continues.
It’s time to take action to repeal the tax on retirement income and return some of the current surplus to seniors and retirees.
State Surplus Offers Opportunity to Help Retirees
Michigan's record budget offers a clear path for policymakers to return some of the current surplus to seniors and retirees who helped bail the state out of tough budgetary times.
When the state government was facing a budget deficit in 2011, Public Act 38 reduced a promised, long-standing income tax exemption for pension income based on pensioners’ birthdates. State officials estimated that taxing senior and retiree pensions would bring in hundreds of millions of dollars, which proved accurate. A number of bills have been introduced since 2011 on both sides of the aisle to reduce, reform, or repeal the tax on retirement income, but the tax continues.
Record State Budget? Time for Tax Relief for Retirees!
Seniors and retirees have carried the weight of the pension tax for far too long. With a record state budget and $7 billion remaining on the table, I urge you to provide tax relief to the seniors and retirees who had not planned for this tax increase prior to retirement.
When the state government was facing a budget deficit in 2011, Public Act 38 reduced a promised, long-standing income tax exemption for pension income based on pensioners’ birthdates. State officials estimated that taxing senior and retiree pensions would bring in hundreds of millions of dollars, which proved accurate. A number of bills have been introduced since 2011 on both sides of the aisle to reduce, reform, or repeal the tax on retirement income, but the tax continues.
It’s time to REPEAL the tax on retirement income. Alleviate this decade-long burden and return some of the current surplus to the seniors and retirees who helped bail the state out during tough economic times.