John Hicks
Kentucky fails to meet fiscal trigger to allow for another income tax cut
Kentucky Republicans’ goal of gradually eliminating the state income tax has met an obstacle of their own making. State tax revenues failed to meet a fiscal requirement set by the GOP-controlled legislature in order to consider further income tax cuts during next year’s legislative session, according to a letter from the state budget director. The General Assembly […]
Kentucky reports another record surplus. Will it lead to a third income tax cut?
Kentucky brought in a record $15.1 billion in general fund tax revenue during the last fiscal year — the most ever — buoyed by a strong jobs market, increasing salaries and wages and continued industry profits, the state budget director’s office announced Monday. Revenue in fiscal year 2023 exceeded budgeted expectations by about $1.4 billion, […]