KCEP Director Jason Bailey released the following statement on Governor Beshear’s State of the Commonwealth address:
“Governor Beshear rightly focused his speech on the need for more resources to help address the deep cuts to education, health and other areas of the budget and begin investing in a more prosperous Kentucky. He said he will propose a specific tax reform plan to the General Assembly. That leadership is welcome.
The big question now involves the specifics of his plan and the debate about it in the General Assembly because in tax reform, the details make all the difference. Good tax reforms raise significant new revenue; make the system fairer by asking more of corporations and wealthy individuals not now paying their fair share; assist working families; and enhance long-term revenue growth so funding can be sustained. Bad tax reforms shift tax responsibility away from the wealthy to everyone else by reducing reliance on income taxes, cut business taxes and slow down revenue growth.
I look forward to the specifics of his proposal, and of a conversation in this General Assembly about building a budget that will strengthen the Commonwealth now and in the future.”