income tax
Beshear signs Republican legislature’s income tax cut into law
FRANKFORT — Gov. Andy Beshear has signed the Republican legislature’s top priority, another cut in the state income tax, although the Democratic governor said lowering the sales tax would have helped more Kentuckians. Facing reelection this year, Beshear said in a video Friday that he decided to sign the legislation, which most Democratic lawmakers had […]
Income tax cut bill passed through the Kentucky Senate, headed to governor’s desk
The GOP-controlled Kentucky Senate passed legislation Wednesday afternoon along party lines that would further cut the state’s income tax to 4%, sending the bill to the desk of Democratic Gov. Andy Beshear who remains mum on whether he’ll veto the tax cut. House Bill 1, highlighted by Republican lawmakers as a priority to pass well […]
Kentucky House GOP plans to pass income tax cut this week
FRANKFORT — Republican House Speaker David Osborne says his GOP supermajority in the House of Representatives plans to pass a bill this week that would continue to cut the state’s income tax, a big priority that GOP leadership telegraphed well ahead of this year’s legislative session. Osborne on the first day of the legislative session […]
Kentucky groups urge lawmakers to reject another income tax cut
A coalition of 28 Kentucky organizations is urging lawmakers to reject additional cuts in the state income tax when the legislature convenes Jan. 3. “Record surpluses used to justify the cut are largely a mirage,” says a letter sent Friday to members of the General Assembly and released by the Kentucky Center for Economic Policy. […]
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 […]
Republicans poised to cut Kentucky income tax again based on revenue boom that could be fleeting
FRANKFORT – Kentucky House Majority Leader Steven Rudy recently told a receptive audience at a Kentucky Chamber of Commerce forum that the first bill the House will consider when it convenes in January will be a measure to cut the Kentucky income tax rate from 4.5% to 4%. “I think it is very cool for […]