Do America's retirees need more tax breaks? Some politicians at the state level clearly think so.
According to a report from the Citizens for Tax Justice, a non-profit that lobbies for tax policy on behalf of middle and lower-income Americans, plans are in the works in five states that would dramatically lower retirees' tax exposure.
Americans age 65 and older suffer a lower rate of poverty than any other age demographic in the country, according to 2013 census data published last fall. Whether the same will be true 10 years from now, as more baby boomers retire with questionable levels of savings, remains to be seen.
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