Temporary Surplus Should Not Trigger Permanent Tax Cuts that Threaten Future Budgets
Driven by a strong economic recovery and by high inflation, the state ended the year with a General Fund surplus...
Addressing Corporate Power Is Key to Tackling Inflation
Inflation is straining Americans’ budgets. While the immediate cause is the COVID-19 pandemic, the preexisting condition of corporate-driven policy choices over recent decades has made the problem much worse. A...
Cancel Student Debt, and Recommit to Education as a Public Good
President Biden’s recent statements that he will cancel some student loan debt is hopeful news for the 616,000 Kentuckians who owe it, our communities and economy. It will also be...
Corporate Tax Break Watch: 2022 General Assembly
Last year, the Kentucky General Assembly passed new business subsidies and tax breaks at a cost of well over $1 billion. Especially because the state has large revenue surpluses thanks...
Tax Cut Is a Giveaway to the Wealthy That Will Damage Future Budgets
The General Assembly passed a new version of House Bill 8 (HB 8) that is expected to reduce the individual income tax rate by 1 point over the next couple...
Budget Agreement Includes Only Modest Increases in Most Areas of Budget, Salary Increases for State Workers
The 2022-2024 budget agreement announced today includes only very modest funding increases for critical state services across the budget. Investments in education and other areas are small, especially considering the...
Proposal Would Continue to Tax Slot Machines at Egregiously Low Level
A bill that was supposed to raise the tax on historical horse racing (HHR) slot machines (HB 607) doesn't increase the tax rate and only tinkers with the proceeds to...
House Tax Bill Would Wreck Kentucky’s Budget to Benefit the Wealthy
House Bill 8, which passed the Kentucky House last week, is the most fiscally destructive legislation ever considered in the commonwealth. It tries to get something for nothing by phasing...
Senate Budget Cuts Education Funding Further From Modest House Plan
Despite a once-in-a-generation budget surplus, the Senate budget includes $1.3 billion less in spending over the biennium than the already-modest House plan (and $2.8 billion less than the governor had...
House Tax Bill Would Devastate Kentucky’s Budget for a Giveaway to the Wealthy
HB 8 would begin aggressively cutting Kentucky’s income tax rate next year and eventually completely eliminate it, devastating funding for Kentucky’s schools, health, human services, infrastructure and other needs. The...