Plain English Breakdown
The official source material does not provide specific details on the financial impact or future legislative actions beyond passing both chambers.
Removing Income Limits for Social Security Tax Breaks
This act removes the income limits that people must meet to get a tax deduction on their Social Security benefits.
What This Bill Does
- Removes the income limit requirements for getting a personal income tax deduction on Social Security benefits.
Who It Names or Affects
- People who receive Social Security benefits and pay personal income taxes in Connecticut.
Terms To Know
- Social Security benefits
- Money that retired, disabled, or surviving family members receive from the Social Security program.
- Personal income tax deduction
- A reduction in the amount of personal income tax a person has to pay.
Limits and Unknowns
- The bill does not specify how much money the state will lose from reduced tax revenue.
- It is unclear if and when this act will be signed into law by the governor.