Thursday, 30 May 2024

Ramos to introduce tax cut for military retirees in new year

Assemblymember James C. Ramos (D-Highland) will introduce legislation granting a tax exemption to military retirees on their service pension when lawmakers return to Sacramento at the start of 2022.

Ramos said military retirees bring benefits such as stability, job skills used in second careers and federal funding.

“These men and women have served our nation in a variety of capacities and they and their families have frequently performed their service at great personal sacrifice. California needs to more fully acknowledge the contributions they make,” Ramos said.

As currently conceived, the exemption would apply to a taxpayer over 60 years of age who has served in the Armed Forces of the United States, the Commissioned Corps of the U.S. Public Health Service, or the National Oceanic and Atmospheric Administration Commissioned Officer Corps.

The exemption would begin on or after January 2023 and before January 2033.

“California’s military retirees appreciate the fact that Assemblyman Ramos has stepped forward to carry this bill,” said Jeff Breiten, a Marine Corps veteran from Redlands who is a board member of the California Council of Chapters of the Military Officers Association of America, past commandant of the Redlands Detachment of the Marine Corps League and a member of American Legion Post 106.

“This legislation will not only provide a well-earned benefit to those who served our country for 20 years or more, it will also help retain and attract to California these retirees who will lend their skills during second careers in a variety of key industries and professions across the great state of California,” said Breiten.

“Military retirees have a steady income and bring stability to the community,” said Fred Green, president of CALMOAA and a retired Navy Lieutenant Commander. “It should be noted that not all military retirees collect their retirement immediately. Reservist and National Guard members collect retirement at age 60. Regardless, we continue to support our community and our economy after our retirement from the military.”

He added, “We contribute to job growth and boost sales tax revenues. Thirty states understand this and do not tax military retirement income. Most military retirees pursue second careers where they utilize their training, technical skills, leadership, and knowledge. After my service in the Navy as an engineer, I became an elementary school teacher and adjunct college professor to give back to my community.”

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