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Foley defends last-minute tax break

Tom Foley introduces New Jersey Gov. Chris Christie (Christine Stuart photo)
Tom Foley introduces New Jersey Gov. Chris Christie (Christine Stuart photo)
The general election is Tuesday, Nov. 4.
The general election is Tuesday, Nov. 4.

HARTFORD, Conn. – Republican challenger Tom Foley said he’s been talking about eliminating the state income tax on Social Security recipients for the past three or four weeks, but Sunday was first time anyone can remember him making the statement.

What Foley didn’t say was that the state already exempts the first $50,000 of Social Security income for individual filers and $60,000 for joint filers. The exemption on the books already benefits about 320,000 tax filers and costs about $79 million a year, according to the Office of Fiscal Analysis.

Foley did admit that exempting the rest of Social Security income from state taxes would cost the state about $40 million in revenue.

See the complete story at CT News Junkie.

 

Comments

5 responses to “Foley defends last-minute tax break”

  1. independent voice

    With many seniors opting to leave CT for friendlier states with no income and estate-taxes, this is a step in the right direction and Foley should be applauded. Similar to the middle class, seniors on fixed incomes have felt the one-two punch from Malloy’s tax and spend roll-outs.

    After nearly four years, there is no longer a need to point fingers and let the record speaks for itself. Our state has been run into the ditch with fiscal mismanagement, historic tax hikes and anemic growth (CT last in the nation in economic growth). With growth virtually non-existent, the same old tax and spend tactics will only loom larger in an unlikely Malloy second term. Residents are hurting and the problems are big and require fresh new leadership. CT will be fortunate to have Tom Foley to be our soon to be next governor.

  2. WOW just WOW

    Another Foley Lie.

  3. John Hamlin

    Too little, too late.

  4. John Levin

    They’re both awful. But Foley really is an idiot:

    http://ctmirror.org/a-tom-foley-press-conference-goes-awry-in-sprague/

    and the video is proof that Foley is an idiot:

    https://www.youtube.com/watch?v=yA9MAwbcRu4

  5. Oldtimer

    Foley seldom mentions anything he plans to do if he becomes governor. When he does say anything, he makes it clear he expects to have as much control as governor as when he buys a company. It is clear he has no understanding of how government really works. Any idea he has, he can propose, but it does not change existing law until the legislature votes to change the law. A governor has a “bully pulpit” and considerable influence, but no real power to make, or change, the law.

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