Means test veterans tax benefit

A bill is quickly moving through the Iowa Legislature that would exempt veterans pension benefits from Iowa Income Tax.  I appreciate the service and sacrifice that veterans have given to our country, but such a benefit should only be given to those veterans who are in need.  Some veterans are millionaires.  We don’t need to exempt their income from Iowa Income tax.  The current bill should be amended to exempt pension payments received only for those veterans whose Adjusted Gross Income is less than $50,000 for individuals and $75,000 for married couples.  Those with incomes above those levels can afford and should help to pay for services provided to Iowans by the State of Iowa..

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