tax reform

Politics
6:56 am
Tue February 11, 2014

Gov. Steve Beshear's Tax Plan Fails to Address Inequality, Economic Think Tank Says

Steve Beshear
Credit Rae Hodge/Kentucky Public Radio

Kentucky Gov. Steve Beshear’s tax reform plan fails to address issues of fairness in the state’s tax code, says a non-partisan economic think tank.

The Institute on Taxation and Economic Policy doesn’t think the plan’s Earned Income Tax Credit will be enough to offset the new sales taxes for the less wealthy.

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Politics
6:22 am
Wed February 5, 2014

Kentucky Gov. Steve Beshear Makes Tax Reform Proposal

Steve Beshear
Credit Rae Hodge/Kentucky Public Radio

Kentucky Gov. Steve Beshear's tax reform plan would raise an additional $210 million in revenue each year.

In announcing his proposal Tuesday, Beshear said the plan would make Kentucky’s economy more competitive with neighboring states by taxing services, lowering income taxes, and reducing the top corporate income tax by a tenth of a percent.

Newly taxed services would include auto and computer repair, landscaping, janitorial services and security systems, as well as luxury services like tanning salons, golf courses and marinas.

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Local News
12:47 pm
Fri January 24, 2014

Kentucky's Zombie of a Pension Problem

Credit File photo

“They was saying on the news, some kind of virus… things got crazy… man, you won’t believe the panic… the broadcasts stopped, and that was the last we heard.” —AMC's "The Walking Dead"

AMC’s hit zombie apocalypse melodrama "The Walking Dead" is a story about a deadly, shambling mass of cannibal undead that brings human civilization to its knees.

But Chris Tobe argues that the show is an apt metaphor for the financial Armageddon he believes the state is inching toward as a result of declining revenue and unfunded pension liabilities.

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Politics
7:19 pm
Tue January 7, 2014

State of the Commonwealth: Beshear Says Kentucky's Momentum in Jeopardy

Steve Beshear
Credit KET

FRANKFORT — Gov. Steve Beshear's seventh State of the Commonwealth address was at a once a plea for reinvestments in education, a nebulous call for tax reform and a self-congratulatory pat on the back for Kentucky's deft implementation of the federal healthcare law.

Speaking to lawmakers on the first day of the 2014 legislative session, Beshear took pride in what he described as six years of progress in changing perceptions about the state on a national level.

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Politics
9:58 am
Tue January 7, 2014

What to Expect from the 2014 Kentucky General Assembly

Credit File photo

As temperatures in Kentucky slowly climb out of the polar abyss, so too will state lawmakers emerge from their districts and trek to Frankfort for the opening day of the 2014 regular session of the Kentucky General Assembly.

The session starts Tuesday.

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Politics
6:55 am
Fri January 3, 2014

Kentucky's State Budget Outlook Worst in Recent Memory, Report Says

Credit Wikipedia Commons

A survey of Kentucky's economy says lawmakers have a choice between reinvesting in services or making more cuts to government.

The report says $250 million in additional revenue won’t be enough to meet the state’s most pressing needs. The report was  released Thursday by the Kentucky Center for Economic Policy.

Director Jason Bailey says this is the worst outlook in recent memory, and lawmakers must find ways to increase revenues to reverse the negative effects of budget cuts.

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Local News
7:17 am
Sun August 18, 2013

Children's Advocates to Rally for Restoration of Kentucky Child Care, Kinship Program Funds

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People who are losing eligibility for a pair of Kentucky programs for families will be the featured speakers as children's advocates rally Monday in Frankfort against state budget cuts.

They'll be asking state leaders to restore funding to the kinship care program and the Child Care Assistance Program, which were drastically cut this year because of an $86.6-million shortfall in the state Department for Community Based Services.

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Politics
6:59 am
Tue July 16, 2013

Despite Beshear's Support, Kentucky Legislators Unlikely to Look at Tax Reform Anytime Soon

Gov. Steve Beshear
Credit Rae Hodge/Kentucky Public Radio

In just over a month, Kentucky lawmakers go back to Frankfort for a special session on new boundaries for the state's legislative districts. But, there are no plans yet to resolve another issue facing the state.

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Politics
10:00 am
Mon April 22, 2013

Beshear May Still Call Special Session for Redistricting, Tax Reform

Steve Beshear
Credit Rae Hodge/Kentucky Public Radio

Despite passing some pension and tax reforms in this year's Kentucky General Assembly session, state lawmakers aren't out of the clear when it comes to another special session.

A few big issues still remain for lawmakers—mainly redistricting and more tax reform.

Gov. Steve Beshear has the sole authority to call a special sessions and to set their agenda. And with Beshear continuing to express a need for more tax reform to pay for education, he's not ruling out calling a special session sometime this year.

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Politics
9:49 pm
Wed February 6, 2013

Citing Bleak Economic Outlook, Beshear Pushes for More Tax Revenue for Education, Pensions

Steve Beshear
Credit Kentucky Governor's Office

FRANKFORT — Gov. Steve Beshear is encouraging lawmakers to take bold stances in reforming the state's tax code,  before past budget decisions and cuts cripple Kentucky.

Beshear made the pleas Wednesday night in his annual State of the Commonwealth address.

(Read the State of the Commonwealth address.)

The speech focused on the state's lack of revenue—and how reforming the tax code would allow enough new money to solve the state's pension problems, plus increase funding for education.

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