KANSAS CITY, Mo. — Missouri Sen. Tony Luetkemeyer (R) has introduced a bill that would exempt social security benefits from state income taxes.
"It protects our seniors," he said. "It puts more money back in their pockets and makes sure that they’re always able to make ends meet."
The Parkville lawmaker said he introduced the legislation after hearing concerns from his constituents.
"We need to make sure that seniors who are on fixed incomes have more money in their pockets, not less," Luetkemeyer said.
According to the AARP, Missouri is one of 12 states that tax some or all benefits.
"Other states have figured out how to make their budget work by not taxing their seniors on social security benefits," Luetkemeyer said. "I’m confident that Missouri can do the same."
Luetkemeyer's bill comes at a time when Missouri has a budget surplus of $6 Billion.
Talk of social security has the attention of retiree Don McClain and his wife.
“We’re 40% dependent on social security," McClain said.
McClain said they're doing fine, but saving has been key to survival.
“We’re putting money aside," he said. "Like you want a new refrigerator — we’re putting money aside for three years to cover that."
While Luetkemeyer's bill goes through the legislative process, McClain and his wife continue a lifestyle they say others should follow whether they're retired or not.
“For many people if they just bite that bullet and start doing some serious finance management, it would make a big difference," McClain said.
If the bill becomes law, if would go into effect in 2024.
—
