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...
Tax and Budget
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...
Without More Revenue, Paying Pension Liabilities Will Continue to Be Challenge
After the General Assembly passed final pension legislation, some proponents of Senate Bill 2 hailed it as “historic.” But the costs Kentucky faces to pay down its unfunded pension liability...
Child Care Cuts Part of Broader Underinvestment in Early Learning
Recent cuts to Kentucky’s Child Care Assistance Program (CCAP) and Kinship Care are part of a broader set of cuts to child care and early childhood education programs, despite solid...
State’s Mental Health System Has Experienced Severe Funding Shortfalls
Discussion of the news that Seven Counties Services, a community mental health center in Louisville, plans to file for bankruptcy should include a look at the chronic lack of state...
Pension Revenue Bill Provides Modest Resources to Address Budget Challenges
The pension revenue bill that passed the General Assembly this week provides only an estimated $31.7 million in net new state revenue to help address Kentucky’s budget needs. House Bill...
Ryan Budget Would Mean Substantial Funding Cuts in Kentucky
House Budget Committee Chairman Paul Ryan’s budget—which the House passed by a slim margin last week—would cut funding to state and local governments in Kentucky by an estimated $301 million...
Revenue Recovery from Great Recession is Slow
The debate over pensions in Frankfort hinges in part on whether the state should raise additional revenue to help make the pension payment or dig into the rest of the...
Not Paying Pension Bills Adds Up
A major contributor to Kentucky's pension funding problem is the legislature's failure to make the full required contribution to the retirement system in recent years. Shortfalls in payments started as...
Retirement System’s Investment Return Assumption is Reasonable
One concern being raised in Frankfort about the existing defined benefit pension plan is that if the retirement system does not meet its expected rate of return of 7.75 percent...