The Income Tax Was Never Going to Be Eliminated. But Admitting So Matters.
An important shift may have happened last month when the Kentucky House Speaker said the General Assembly will not be...
Budget & Tax
Budget Agreement Maintains Modest Spending for Education and Other Needs Despite Funds Available to Do More
The final budget agreement spends significant dollars out of the Budget Reserve Trust Fund (BRTF) primarily on infrastructure and very specific local projects. However, it remains largely austere when it...
Senate Budget Includes Much More Infrastructure Spending, Remains Austere When It Comes to Other Needs
The Senate has proposed a budget that spends significant dollars out of the Budget Reserve Trust Fund (BRTF), primarily on infrastructure projects, much more than the House proposed. However, the...
House Passes Austere Budget That Adds to Already Overfunded Reserves and Aims for More Tax Cuts
Kentucky has a historic opportunity to invest in critical community needs, but the House passed a modest budget – lacking adequate funds for areas like education, child care, housing and...
Kentucky Plummets in State Ranking of Tax Fairness
Because of recent legislative changes, Kentucky’s tax system is rapidly becoming much more inequitable, according to a new report by the Institute on Taxation and Economic Policy (ITEP). Kentucky has...
Substantial Revenues Are Available for Both Recurring and One-Time Needs, Unless Lawmakers Budget for More Tax Cuts
The budget debate is well under way in Frankfort, but the discussion is clouded by confusion and misinformation about the types of resources available and the consequences of taking advantage...
This Year, the Legislature Has the Money to Pass a Budget that Delivers for Kentuckians
What would you do if you had billions of dollars to help meet the needs of your fellow Kentuckians? Would you use the money to address the teacher and bus...
Governor’s Budget Invests in Education and Infrastructure Using Dollars Otherwise Piling Up in Excessive Reserves
Governor Beshear’s 2024-2026 budget proposal expands investment in a variety of public services, with a focus on education and infrastructure, and pays for that expansion with billions of dollars otherwise...
The Money Is There and So Are the Needs: Preview of the 2024-2026 Budget of the Commonwealth
Introduction The General Assembly faces a critically important opportunity with the 2024-2026 Budget of the Commonwealth. A strong national economy has resulted in robust recent state revenue growth, but the...
Local Sales Tax Amendment Could Lead to Wider Inequality Without Better Funding Local Services
Under Kentucky’s constitution, there are limits on the types of taxes the General Assembly may authorize local governments to levy, and local sales taxes are not allowed. [efn_note]As currently interpreted,...