State Budget
HB 142 – believing we can move Kentucky forward
Legislators can move Kentucky significantly forward by giving serious consideration to comprehensive tax reform legislation introduced by Rep. Jim Wayne on Tuesday.
“The reality is … we are in a state of fiscal crisis,” Wayne said, adding that his intent is “to begin the debate during this session ... and start educating the legislators and the general public about the crisis.”
House Bill 142 would raise about $800 million in new revenue, mostly by tapping income and transactions that now go untaxed. That includes extending the sales tax to about 15 services and lowering to $35,000 per person the exclusion for pension income.
He pointed out that the bill would decrease taxes on the lowest incomes, primarily through a refundable Earned Income Tax Credit.
KFTC members joined Rep. Wayne at the press conference, with Becki Winchel delivering a statement on behalf of KFTC’s Economic Justice Committee. She reminded those present that, “Our state budget is one of the best means we have for moving Kentucky and its people forward.
Coal severance trust fund a good idea
The Hazard Herald published another strong editorial about what's needed to support economic diversification in eastern Kentucky. It states, "In 2011, the Mountain Association for Economic Development (MACED) released a report that urged leaders to form a trust fund from coal severance dollars that can be accessed later on for prioritized projects.
Partnership for Kentucky's Future
A meeting to consider the proposals of the Blue Ribbon Commission for Tax Reform.
Budget cuts add pressure on already-stressed programs for the homeless
Louisville shelters “have had to turn away homeless families and homeless individuals, because there are no beds available for them.” More funding, not more budget cuts, are needed, a report from the U.S. Conference of Mayors concludes.
Tax Commission proposal: more from individuals, less from corporations
Kentucky would get significant new revenue – but corporations would get a major reduction in taxes – under a package of tax change proposals approved Thursday by the Blue Ribbon Commission on Tax Reform.
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