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,...
Budget & Tax
Four Key Facts about Public Pensions in Kentucky
As Kentucky legislators consider changes that could cut pension benefits for nurses, social workers, police officers and other public sector workers, they should keep in mind four important facts. Public...
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...
Fact Sheet: College Affordability in Kentucky
Progress in higher education is essential to building a strong economy, an informed citizenry, and a higher quality of life. However, the cost of higher education is a growing challenge...
Pension Recommendations Emphasize Employee Sacrifice While Addressing Only Portion of Liability
The state’s task force on public pensions heard consultants’ recommendations this week that include several ways to raise employee costs and cut benefits, some of which may not be legal....
Arguments to Cut Income Tax Miss Context and Ignore Tax’s Benefits
Those arguing for a shift toward sales taxes and away from income taxes in Kentucky overstate the influence of income taxes on where people live. And they overlook the benefits...
What Would Kentucky Gain from More Business Tax Cuts?
For a state like Kentucky—with high levels of poverty, low wages and too few jobs—a perpetual issue is how government can do more to promote prosperity. For years, the state...
The Bigger Picture on Who Pays Taxes
The vast majority of Kentuckians (and Americans) who don’t owe federal income taxes are either workers who pay payroll taxes, seniors, people with disabilities or students. In 2009-2010, 49 percent...