TOPEKA, Kan. (KSNT) — Kansas lawmakers are looking to keep retirees in the state.
A bill is being discussed that would increase the amount of income Kansans can make while pulling from their social security, without being taxed on their social security benefits. Currently, one can make up to $75,000 per year without being taxed. The proposed bill would increase that amount to $100,000 per year.
Lawmakers in support of the bill say this will help keep people from leaving Kansas due to high taxes.
“The outward migration comes from the tax burden; some is property tax, some of it’s this social security cliff. If they can move to a more tax-friendly state…that’s an issue,” explained Rep. Les Mason, (R) McPherson. “So one of the things is to try and keep that population here and make Kansas the best place to retire.”
The change comes with a price tag of more than $40 million. Representative Mason said that, while the price seems high, the economic benefit would help the state.
“If we lose seniors to other states, obviously the economic impact would be worse,” said Mason.
The bill is being discussed by the House Taxation committee. The committee is expected to vote on the bill sometime this week.