income tax cut
Instead of turning pandemic aid into a tax cut for the rich, lawmakers should invest in Kentucky
When is a tax cut NOT a tax cut? When a permanent reduction in state revenue is based on a temporary surplus in the state budget. The result is an unsustainable situation — a tax cut that ends up raising taxes elsewhere and harms our ability to fund the vital programs that keep Kentuckians healthy […]
Income tax cut, a GOP priority, sails out of Kentucky House
FRANKFORT — A bill that would continue to cut the income tax in Kentucky, a top Republican priority, sailed out of the House on a party-line 79-19 vote Thursday afternoon. The vote, which was followed by applause on the floor, took place on the third day of the session and about six hours after House […]
Robust revenue growth forecast, setting stage for GOP to cut Kentucky income tax next month
FRANKFORT, Ky. – Kentucky can expect a big revenue surplus of $1.4 billion when the state’s current fiscal year ends on June 30. That was the prediction Wednesday of a group of experts — called the Consensus Forecasting Group — which is charged with making official forecasts of revenue for budgeting purposes. If the forecast […]