The budget expands the existing exemption for pension and annuity earnings, starting with returns filed in early 2025. Under current law, those benefits are exempt for single filers whose overall adjusted gross income (AGI) is less than $75,000 and for couples whose AGI is less than $100,000. Those who make even $1 more receive absolutely no tax exemption. The budget reduces those exemptions for singles making between $75,000 and $100,000, and for couples earning between $100,000 and $150,000. 

We are pleased with the continued progress toward reducing the income tax burden on retirees in this state. AARP believes the state can and should do more to keep retirees in Connecticut and simplify our retiree income tax laws. This issue will continue to be a priority for us in future legislative sessions.

In addition to the items highlighted below, a full recap is available at www.aarp.org/CT.

Energy Protections

As a follow up to the “Take Back Our Grid Act” of 2022, this bill adds further consumer protections to the law, including a prohibition on pushing the cost of defending rate increase hearings onto consumers, reducing ratepayers’ monthly energy charges, and reimbursing consumers for spoiled food and medicine resulting from a prolonged outage.

Financial Exploitation

This bill adds good consumer protections and makes it easier for financial institution representatives to stop suspected financial exploitation of people 60+, protecting those representatives from liability in certain cases.

Early Voting

Connecticut voters overwhelmingly approved in-person early voting in the 2022 election. As a result, this bill will require 14 days of early in-person voting to be implemented for the 2024 elections. Additionally, a resolution approving a state constitutional amendment to allow no-excuse absentee voting passed for the second consecutive legislative session and will give voters another chance to change the voting laws in Connecticut in the 2024 election. 

Health Care Costs

This bill allows Connecticut to join the ArrayRx program that provides residents with a discount card they can use at the pharmacy to access lower prescription drug prices. It also addresses issues of transparency regarding the availability of generic drugs, pharmacy benefits managers’ practices related to prescription drug distribution, and hospital facility fees.

Caregiving

Connecticut Medicaid spent $3.5 billion on Long-Term Care in 2022 and because of this legislation, Connecticut taxpayers are getting more of the financial transparency they deserve and older adults and people with disabilities will get more of the quality care they deserve.

Pedestrian Safety

This legislation supports a Vision Zero strategy to eliminate traffic fatalities and severe injuries for everyone who uses the road. More than 380 people were killed on Connecticut roads in 2022 – the highest number in 30 years – and 55 percent of pedestrians killed in Connecticut in 2022 were over the age of 55.

In addition to advocacy work, AARP is committed to providing valuable information and resources through a wide variety of free educational, interactive, and fun events. Learn more about AARP in Connecticut and our legislative achievements at www.aarp.org/ct and explore the variety of in-person and virtual offerings at www.aarp.org/CTEvents. Stay informed by signing up for our emails.

Nora Duncan is the state director for AARP Connecticut.