PRINTER'S NO. 828
No. 128 Session of 2007
INTRODUCED BY SAINATO, PALLONE, GEORGE, WILLIAMS, SONNEY,
M. O'BRIEN, COHEN, HENNESSEY, SAYLOR, GOODMAN, READSHAW,
FREEMAN, O'NEILL, KORTZ, FAIRCHILD, KENNEY, KILLION,
HORNAMAN, MENSCH, PYLE, HERSHEY, OLIVER, McILVAINE SMITH,
HESS, RAPP, MYERS, CALTAGIRONE, DePASQUALE, PETRONE,
MARKOSEK, KOTIK, SOLOBAY, BIANCUCCI, GIBBONS, PICKETT,
PRESTON, PETRARCA, MUNDY, JAMES, RAMALEY, DeLUCA, FABRIZIO,
K. SMITH AND YOUNGBLOOD, MARCH 19, 2007
REFERRED TO COMMITTEE ON FINANCE, MARCH 19, 2007
A RESOLUTION
1 Memorializing Congress to increase legislatively the income
2 thresholds at which Social Security benefits become taxable,
3 by doubling the income thresholds.
4 WHEREAS, If a person's total income--whether from a part-time
5 job, pension, annuity, interest or other taxable income--exceeds
6 certain levels, that person might owe Federal income tax on up
7 to 85% of any Social Security benefits the person receives; and
8 WHEREAS, If the sum of a person's total taxable income, plus
9 tax-exempt income, plus one-half of the person's received Social
10 Security benefits totals between $25,000 and $34,000 for a
11 single taxpayer or between $32,000 and $44,000 for a married
12 couple who pay taxes jointly, up to 50% of the person's or
13 couple's Social Security benefits might be taxable; and
14 WHEREAS, If that threshold exceeds $34,000 for a single
15 taxpayer or $44,000 for married taxpayers filing jointly, up to
1 85% of their Social Security benefits might be taxable; and
2 WHEREAS, In today's economy, these thresholds are too low and
3 should, to reflect today's income levels and future increasing
4 income levels, be doubled for tax year 2007 and should increase
5 annually thereafter to reflect the annual increase of the
6 Consumer Price Index; therefore be it
7 RESOLVED, That the House of Representatives of the
8 Commonwealth of Pennsylvania memorialize the Congress of the
9 United States to increase legislatively the income thresholds at
10 which Social Security benefits become taxable, by doubling the
11 income thresholds for tax year 2007 and by increasing the income
12 thresholds annually thereafter to reflect the annual increase of
13 the Consumer Price Index.
B6L82JAM/20070H0128R0828 - 2 -