Graphic: New Revenue Wouldn’t Even Cover Basic Costs
The graphic below shows that the modest revenue growth recently predicted for the first year of the next budget ($259...
Tax and Budget
Small Budget Surplus Provides Little Reason to Celebrate
Kentucky ended fiscal year 2013 with a $70.6 million surplus in the General Fund – about $30.6 million from lower-than-expected spending in a few areas and $40 million from revenue...
Budget Cuts Stack Up: Kentucky Faces the Eighth Largest Decrease in Federal Grants Among States
Kentucky will receive $162 million less in federal grant funding in 2013 than it did in 2012, according to a new brief by the Economic Policy Institute (EPI). The report...
Kentucky’s 2013 Revenue Growth Lower than Many Other States
While current trends suggest that Kentucky's General Fund revenue may exceed the official forecast for the year ending June 30, the state's revenue growth is less than what other states...
Underfunding Also Led to Shortfall in Local Government Pensions
The pension system for Kentucky local government employees has a shortfall even though local governments have been required to make their annual payments each year. Some are using this fact...
A Tax Shift Is Not Tax Reform
A key question in Frankfort is whether state leaders will enact tax reform between now and the end of the 2014 legislative session. But a challenge is the question posed...
How the Medicaid Expansion Can Save Money in the State Budget
Governor Beshear's announcement that he’ll expand Medicaid in Kentucky included release of a report showing that expansion will result in a net savings of $802 million to the state budget...
Bill to Collect Internet Sales Tax Would Help Kentucky’s Budget and Level Playing Field for Local Businesses
Federal legislation requiring internet retailers to collect sales taxes owed to states would aid Kentucky’s depleted budget and end the unfair advantage out-of-state sellers have over Main Street Kentucky businesses....
Federal Limit on Tax Expenditures Would Generate Needed Revenue and Make Taxes Fairer
President Obama’s proposal to limit tax savings on itemized deductions and exclusions for high-income people would raise more than half a trillion dollars over the next decade while increasing taxes...
What Are Taxes For?
Tax Day is an important time for Kentuckians to consider the role of government in our state and nation. Taxes are a critical tool for doing things together that we...