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Closing Corporate Tax Loopholes to Fund Investments in Kentucky Families

Jason Bailey | February 10, 2015

EITC graphic 10House Bill 374 would close several corporate tax loopholes that allow some profitable corporations to avoid paying their fair share of taxes, and use the resources to fund a tax credit for Kentucky’s working families. The bill targets strategies that major corporations use to artificially shift profits to subsidiaries in no- or low-tax states or foreign tax havens. It would generate $66 million to fund a state Earned Income Tax Credit (EITC), a proven tool to help lift working families out of poverty. HB 374 is a step toward the kind of tax reform Kentucky needs.

Corporate Loopholes EITC

More On Budget & Tax: State Budget Changes in 2023 Session Increase Future Risk

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Perspectives

Don’t Hold Our Best Tool for Fighting Hunger as a Political Hostage

The School Year Will Soon End, but a New Strategy to Dismantle Public Education Is Just Beginning

Eroding Kentucky’s Largest Revenue Source Will Bring a Painful Reckoning

Shorting State Workers’ Pay Hurts Us All

Cutting Bourbon Industry Taxes Harms the Communities That Sustain It

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State Budget Changes in 2023 Session Increase Future Risk

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HB 444 Leaves $110 Million On the Table for State Worker Pay

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‘Transplant’ Bill Would Give Large Windfall to Companies Recruiting Remote Workers

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