COLLINSVILLE – In a bipartisan effort to block a new state tax on retirement income, state Rep. Katie Stuart, D-Edwardsville, is sponsoring House Resolution 29 to oppose such changes by the legislature.
“We need to make sure we are protecting and providing for our senior residents during a time when they can no longer work and earn an income, which is why this resolution is so important,” said Stuart. “In a time when many seniors are struggling to keep up with rising property taxes and the increased cost of prescription drugs, this is not the right course of action to take to try and solve the financial issues in the state. Seniors and middle class families are the ones who can least afford more tax increases.”
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Stuart previously voted against the state income tax hike and continues to work to block any proposals to create a new tax on retirement income. The retirement tax, which is also opposed by the AARP, has been proposed by some organizations as a way to generate additional state revenue.
“Our state needs to make sure that millionaires and billionaires are paying their fair share in taxes each year, not turning to new taxes on the middle class or on the retirement income of seniors who have worked all their lives and depend on this retirement income to live,” Stuart continued. “Seniors should spend their retirements enjoying time with their families, not worrying about how much more they’ll be asked to pay in taxes.”
