Committee hears bill related to dumping Social Security taxes
By Marshall Griffin, KWMU
Jefferson City, MO – A series of bills that would do away with taxing Social Security benefits in Missouri were examined by a House Committee Tuesday in Jefferson City.
The House committee heard arguments for and against several bills that are being considered, including one that would exempt everyone from such taxes, regardless of age or income.
"If we can get support around the building from the Senate and the governor, we could very well maybe be looking at a situation where we could draft a compromise that would allow us to not tax pensions in the state of Missouri," said House Speaker Rod Jetton, the bill's sponsor.
Jetton also says the move could spur the economy by attracting retirees to Missouri instead of Florida or Arizona.
But Tom Crockmeyer of the Missouri Budget Project disagrees. He says exempting taxes on Social Security benefits would not be a major factor, when compared to proximity to family and friends and the weather.
Crockmeyer also says the legislation would primarily benefit the wealthy, plus, it would cost the state about $100 million a year, regardless of any future budget surpluses.