Vt. leaders call to exempt taxes on military pensions
MONTPELIER, Vt. (WCAX) - Some of Vermont’s top leaders want to exempt taxes on military retirement pensions.
This idea has been discussed in Montpelier for years and Republican Gov. Phil Scott has proposed it for the last five years.
Democratic Lt. Gov. Molly Gray is also supporting the move saying it could be a key solution to our demographic problem.
However, the tax break for veterans would cost the state about $3 million every year.
Now that the U.S. is beginning to drawing down troops from Afghanistan, the lieutenant governor says the measure will bring in more taxpayers.
“I think this is an important measure to ensure that if service members want to retire, they know Vermont is a welcoming environment. If Vermonters who have served overseas and want to retire can do so here and they can start their next career here in the state at a time when we desperately need to grow our workforce,” Gray said.
Vermont is one of seven states that tax military retirement benefits.
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