Pension Needs Far Exceed Likely Revenue Growth in 2017
The state needs to find $580 million more to make its actuarially required General Fund contributions to pension plans in...
Budget & Tax
Restricted Access to Unemployment Benefits Played Role in Paying Back Loan
Kentucky got the good news it has now paid off its $972 million loan from the federal government after the state's unemployment insurance program fell into the red during the...
Despite Good Growth in 2015, Erosion Still Hurting Revenue
The good news is Kentucky’s economy grew faster in budget year 2015, and tax revenue grew with it — by $505 million, or 5.3 percent, compared to budget year 2014....
Retirement Income Growing Much Faster than Wages, Spelling Trouble for State Revenues
Kentucky must begin an active search for revenue options to begin fully paying down our pension debt and make public investments that will move the state forward. One issue that...
Road Fund Helped by 2015 Fix but Still Feeling Funding Challenges
Kentucky ended budget year 2015 with a $20 million shortfall in Road Fund receipts, meaning slightly less money has come in than what was budgeted to invest in and maintain...
Year-End Revenues Highlight Importance of Individual Income Tax
Kentucky ended its budget year with General Fund revenues $165.4 million more than anticipated, equaling growth of 5.3 percent from the year before. The individual income tax is the main...
The Safety Net Is Effective at Fighting Poverty in Kentucky, Should Be Protected
More than 800,000 Kentuckians are lifted out of poverty each year by safety net programs including Social Security, SNAP (formerly food stamps) and low-income tax credits for working families according...
Working Family Tax Credits Support Kentucky Moms and Kids
Mother’s Day is a fitting time to celebrate the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC), two working family programs that help 296,000 Kentucky mothers make ends...
Visual: Medicaid Expansion Helps, Not Hurts, State Budget
Through the Affordable Care Act (ACA), Kentucky expanded Medicaid eligibility to those with incomes up to 138 percent of the poverty line -- or $32,900 for a family of four...
April 15 Isn’t Popular, But Taxes Still Important
Few people like Tax Day. Filling out forms and mailing off checks doesn’t usually inspire reflection on the bigger purpose of taxes. Yet most people can agree on the priorities...