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2/5/2024
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Rep. O’Brien introduces tax relief bill for seniors
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STATE HOUSE – Rep. William W. O’Brien (D-Dist. 54, North Providence) has introduced a bill which will grant senior citizens significant tax relief on pension and annuity income.
“As costs continue to climb for Rhode Islanders, this bill will help our retirees and individuals living on fixed-incomes keep a lot more of their money during tax season. Retirees have worked hard their entire lives and it is only right for them to be able to hold on to more of their retirement money that was earned during their decades of employment and service,” said Representative O’Brien.
The legislation (2024-H 7485) would allow a modification for all taxable pension and/or annuity income includible in federal adjusted gross income for tax years beginning on or after January 1, 2025.
Representative O’Brien notes that the legislation would put Rhode Island in line with many other states that do not tax retirement income.
The bill has been referred to the House Finance Committee.
For more information, contact:
Andrew Caruolo, Publicist
State House Room 20
Providence, RI 02903
(401)222-6124
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