Retirees in Missouri could be getting a big gift in the near future.
Technically, the Social Security benefits they have are already owed to them — after all, they paid in for years. But as is the case in about a quarter of U.S. states, benefits are subject to taxes in Missouri.
However, recent discussions show this could be changed. Check out this quote from the state’s senator:
“Missouri does have a record budget surplus and I believe giving that money back to the people is the best way that we can use those resources rather than more government spending,”
Sen. Tony Luetkemeyer, R-Parkville
It’s a nice way for the state to give back to retirees who’ve chosen to make it their home. As we pointed out, Missouri has been discussing this previously, and the year-end budget surplus from 2022 could be the factor that finally makes it official.
The “Show-Me” state is showing some consideration to its seniors. What do you think of this move? Does your state tax Social Security benefits? Let us know in the comments, then follow us on Facebook and Twitter.