State Representative Linda Gentile (D-Ansonia, Derby) joined House Speaker Joe Aresimowicz, Finance Committee Co-chair Jason Rojas, Higher Education Committee Co-chair Gregg Haddad, college students and advocates Friday, to highlight legislation making Connecticut more affordable for college graduates and seniors.
House Bill 5586, An Act Making Connecticut More Affordable For College Students, establishes a tax credit against the personal income tax for recent graduates from an accredited institution of higher education with an associate, bachelor, master’s or doctoral degree who reside in the state of Connecticut within two years of graduation. They can claim this tax credit for 5 successive years.
House Bill 5587, An Act Concerning A Tax Exemption For Senior’s Social Security Benefits, would exempt Social Security benefits from the state income tax for seniors.
Rep. Gentile has joined the rest of the House Democrats in introducing these two bills and recently testified in favor of each of them.
“In order for Connecticut to remain competitive for business growth and job creation, we have to make the state more affordable for our graduating students,” Rep. Gentile said. “By doing so, students will have the incentive to live and work in Connecticut. We can make Connecticut a more welcoming place for job growth, and we can make it more affordable by decreasing the cost of state and local government.”
Rep. Gentile continued, “Connecticut also needs to make sure our seniors are taken care of. This bill seeks to make Connecticut more friendly to retirees; lessening the incentive for them to move to states like Florida which don’t impose an income tax. Connecticut remains a notoriously difficult state to retire in and retirees and seniors leave the state more than any other age group. This bill will ultimately help reverse the outmigration of our seniors and retirees.”
(This is a press release from House Democrats' Office)
No comments:
Post a Comment