John Hicks

Kentucky fails to meet fiscal trigger to allow for another income tax cut

BY: - August 31, 2023

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?

BY: - July 10, 2023

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, […]