Post by Logan on Feb 6, 2016 0:44:15 GMT -6
FRANKFORT -- Several state House members filed a bill Friday to reform Kentucky’s tax system in an effort to avoid proposed budget cuts to state programs, services and universities.
The measure is designed to boost state revenue by $570 million a year.
“We can’t make the investments needed for Kentucky to thrive unless we modernize a badly outdated and inadequate tax code,” said Rep. Jim Wayne, D-Louisville, who is a primary sponsor of the legislation along with Rep. Tom Burch, D-Louisville. “It’s time to give Kentucky a tax system that properly supports education, law enforcement, roads and infrastructure, environmental protection, health care, and programs to help our state’s most vulnerable citizens.”
The tax reform plan, officially known as House Bill 342, would raise some taxes while lowering others. Sponsors of the legislation say it’s aimed at promoting fairness while building a revenue base designed for today’s service-based economy.
Read more here: www.kentucky.com/news/politics-government/article58671358.html
The measure is designed to boost state revenue by $570 million a year.
“We can’t make the investments needed for Kentucky to thrive unless we modernize a badly outdated and inadequate tax code,” said Rep. Jim Wayne, D-Louisville, who is a primary sponsor of the legislation along with Rep. Tom Burch, D-Louisville. “It’s time to give Kentucky a tax system that properly supports education, law enforcement, roads and infrastructure, environmental protection, health care, and programs to help our state’s most vulnerable citizens.”
The tax reform plan, officially known as House Bill 342, would raise some taxes while lowering others. Sponsors of the legislation say it’s aimed at promoting fairness while building a revenue base designed for today’s service-based economy.
Read more here: www.kentucky.com/news/politics-government/article58671358.html