New Projections Say Senate Pension Bill Is $206 Million More Expensive than House Plan
The Senate version of pension legislation will cost $206 million more than the House version over the next 20 years...
Tax and Budget
Lottery Funds Not Adequately Supporting State Financial Aid Programs
The House has recently identified new lottery funds as a potential source of revenue to help pay down Kentucky’s pension liability. Whatever happens with that proposal, it’s important to understand...
Gambling Revenues Are No Substitute for Tax Reform
The House has proposed generating new revenues for the state pension system by expanding the lottery and utilizing revenues from instant racing. However, the plan generates only a portion of...
Income Tax Cuts No Way to Grow Small Businesses
The claim that cutting state income taxes is an effective strategy to help small businesses create jobs is discredited in a new report released by the Center on Budget Policy...
Bill Would Be a Step Toward Greater Accountability for Tax Breaks
Legislation introduced in the House proposes new reporting requirements for some economic development incentive programs, and is a step in the right direction toward greater scrutiny of these costly financial...
Debt Limit Could Increase Costs for Kentucky
A Senate committee approved legislation today to limit debt service (the annual payments made on debt the state owes) in future years to six percent of the state's revenue. Yet...
Administration Describes Bleak Outlook for Next Budget without More Revenue
In a presentation on the need for tax reform to the joint House and Senate Appropriations and Revenue Committee today, Secretary Mary Lassiter laid out a bleak outlook for the...
State Can’t Pay Pension Debt from Natural Revenue Growth without Harming Services
One area of consensus on pensions is that the state should begin making the full annual required contribution to the retirement system, which will reduce the long-run costs of paying...
Penny Increase in Sales Tax Would Worsen Tax Fairness and Fail to Fix Long-Term Revenue Problem
A couple of legislators have floated the idea of raising the sales tax by one percentage point rather than taking action on a tax reform package. But such a plan...
Tax Commission Recommendations Raise Needed Revenue but Include Big Corporate Tax Cut
The new plan from the Governor's Blue Ribbon Tax Reform Commission rightly puts the first priority on raising needed revenue to address Kentucky's budget challenges. The commission finalized a package...