When the new fiscal year begins on Monday, senior citizens and those closing-in on retirement may start to get a little encouragement to stay in Connecticut. After a couple years of delays, the multi-year phasing-out of income taxes on retirement income will finally begin.
The issue has been kicking around for several years. In particular, House Democrats made it a part of their 2016 election campaign. But the state’s fiscal challenges, with accompanying multi-billion-dollar budget deficits, precluded its enactment.
Nora Duncan, state director of the AARP, said retaining the benefits was a priority for the group during the recently completed legislative season.
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