Kentucky’s ‘rainy day’ fund reaches new heights due to tax revenue surplus
FRANKFORT — Kentucky’s budget reserve trust fund, commonly known as the “rainy day” fund, now sits at more than $3.7 billion in large part due to record tax revenues brought in by the state during the last fiscal year. State Budget Director John Hicks told state lawmakers at an interim committee meeting Wednesday the budget […]
Tennessee has some advantages over Kentucky. Backward tax policy isn’t one of them.
Maybe some Kentucky Republicans are right: we do need a wall along our southern border. Otherwise all those poor and middle class Tennesseans who want to avoid their state’s high sales taxes will keep coming up here and crowding our stores. Who can blame them? Tennesseans now pay state and county sales taxes as high […]
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 […]
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 […]