Blue Ribbon Tax Commission

Politics
3:36 pm
Tue December 3, 2013

Report: State Earned Income Credit Could Generate $134 Million for Kentucky Families

Credit Shutterstock.com

A Kentucky nonprofit says a state earned income tax credit would help working families—and it would help pay for itself.

Kentucky Youth Advocates released an issue brief Tuesday that says one in four Kentucky taxpayers could benefit from a new state earned income credit, which would piggyback onto the existing federal earned income credit.

KYA Executive Director Terry Brooks added that the proposal, which could cost up to $134 million per year in the form of tax rebates, would also put money back into local economies.

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Politics
5:15 pm
Tue February 5, 2013

Lawmakers Ready for Tax Reform Legislation, but Bill Unlikely This Session

Jerry Abramson
Credit File photo

Kentucky lawmakers seemed eager to dig into another tax reform bill this year, but the chair of the latest tax reform commission says reform isn't likely coming soon.

Lt. Gov. Jerry Abramson—who chaired the commission—and Mary Lassiter, the secretary of the cabinet, addressed lawmakers on the budget committees about the recommendations of the Blue Ribbon Tax Commission.

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Politics
1:27 pm
Wed January 30, 2013

Report: Kentucky Tax System Unbalanced On Backs of the Poor

Credit Creative Commons

A new report by the Institute on Taxation and Economic Policy shows a big gap between Kentucky’s income levels on who pays taxes.

The report says Kentucky’s top 1 percent income bracket pays roughly 5 percent of the state’s income, while the bottom 20 percent pays 9 percent.

(Read the report here.)

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Politics
4:35 pm
Tue October 2, 2012

Tax Commission Gets Final Reports as Deadline Draws Near

Kentucky’s Blue Ribbon Tax Commission has spent months learning how the state’s tax system works, and is now beginning to hammer out proposals to reform the state’s tax code.

The commission met again today in Frankfort to hear some final reports from the Beshear administration on how Kentucky’s current revenue systems work.

State representative and commission member Jim Wayne says the reports served as another reminder of how far behind Kentucky has fallen.

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Politics
11:45 am
Wed August 15, 2012

Abramson Says Tax Commission Not Likely to Recommend Big Changes

File photo

The chair of Kentucky’s tax commission says a sweeping overhaul of the state's tax code isn't in the works.

Lieutenant Governor Jerry Abramson says, in his heart, he wants to see a major change in the tax code.

“But at the same time my brain tells that generally in state government things move incrementally forward,” he says, adding that a grand reform bill isn’t likely to pass the legislature.

And Abramson says throwing out and completely rewriting the state tax code, as state Senate President David Williams previously advocated for, is out of the question.

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Local News
2:32 pm
Wed May 30, 2012

State Tax Overhaul Panel Begins Regional Hearings

From Chad Lampe, Kentucky Public Radio

Lieutenant Governor Jerry Abramson and Kentucky’s Blue Ribbon Tax Commission are seeking public comment to help develop recommendations on overhauling the state tax code. 

Abramson says around 100 people attended the first of six regional public hearings last night in Paducah. The commission wraps up public meetings in August and will have three months to finish the plan by a November deadline. Abramson is hopeful the plan will pass the legislature.

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