Springfield, Ill. - AARP Illinois State Director Bob Gallo issued the following statement today about the organization’s strong opposition to taxing retirement income.
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“AARP Illinois adamantly opposes taxation of retirement income and would not support any proposal that does so.
As a non-profit, non-partisan organization dedicated to improving lives for older adults, AARP Illinois is guided by our research that shows that 89 percent of those ages 50 and over oppose taxing retirement income, and 71 percent of voters 25 and older are also against it.
The current graduated income tax proposal in no way taxes retirement income or makes it any easier to implement a tax on retirement income. In fact, Illinois state law protects retirement income from taxation, including Social Security, pensions, 401(k)s, and IRAs – and that will not change under this proposal.
With this in mind, AARP Illinois supports a graduated income tax as a step in the right direction toward addressing our state’s budget crisis without shifting the burden to our older and middle-class residents.
It’s wrong that billionaires pay the same tax rate as essential workers, and only those who can afford it -- the wealthiest 3% -- will pay more under this plan.
AARP Illinois is committed to supporting the graduated income tax proposal – and opposing any plans that would tax retirement income.”
This story is provided by AARP Illinois. Visit the AARP Illinois page for more news, events, and programs affecting retirement, health care, and more.
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