Corporate Tax Break Watch: 2022 General Assembly
Last year, the Kentucky General Assembly passed new business subsidies and tax breaks at a cost of well over $1...
Budget & Tax
Bill Provides Huge Subsidy to Investment Companies with No Requirement of Rural Investments, Jobs or Return to Communities
House Bill 308, which passed the Kentucky House and may be acted on in the Senate in the session's final days, is a giveaway to out-of-state venture capital funds with...
Tax Cut Is a Giveaway to the Wealthy That Will Damage Future Budgets
The General Assembly passed a new version of House Bill 8 (HB 8) that is expected to reduce the individual income tax rate by 1 point over the next couple...
Budget Agreement Includes Only Modest Increases in Most Areas of Budget, Salary Increases for State Workers
The 2022-2024 budget agreement announced today includes only very modest funding increases for critical state services across the budget. Investments in education and other areas are small, especially considering the...
Proposal Would Continue to Tax Slot Machines at Egregiously Low Level
A bill that was supposed to raise the tax on historical horse racing (HHR) slot machines (HB 607) doesn't increase the tax rate and only tinkers with the proceeds to...
House Tax Bill Would Wreck Kentucky’s Budget to Benefit the Wealthy
House Bill 8, which passed the Kentucky House last week, is the most fiscally destructive legislation ever considered in the commonwealth. It tries to get something for nothing by phasing...
Senate Budget Cuts Education Funding Further From Modest House Plan
Despite a once-in-a-generation budget surplus, the Senate budget includes $1.3 billion less in spending over the biennium than the already-modest House plan (and $2.8 billion less than the governor had...
Income Tax Cuts Will Widen Inequality in Kentucky
To pay at least in part for income tax cuts for the wealthy, the House budget proposal shorts investments in schools, health, human services and infrastructure. Given historic revenue levels,...
House Tax Bill Would Devastate Kentucky’s Budget for a Giveaway to the Wealthy
HB 8 would begin aggressively cutting Kentucky’s income tax rate next year and eventually completely eliminate it, devastating funding for Kentucky’s schools, health, human services, infrastructure and other needs. The...
Senate Income Tax Rebate Unfairly Leaves Out Low-Income Kentuckians, Could Force Some to Repay It
Today the Senate Appropriations and Revenue Committee moved forward a $1.15 billion income tax rebate that will give away a huge portion of the revenue surplus that could otherwise be...