Lt. Gov Jerry Abramson presented a draft of Governor Steve Beshear's proposed tax code changes to the House budget committee today, which was first announced by Beshear last week. The changes, if fully implemented, could raise an estimated $210 million annually by expanding the 6% sales tax to select services, an increased tax on cigarettes from 60 cents to $1 dollar per pack, and reducing tax breaks on pensions for people earning more than $80,000. On Sounds Good, Kate speaks with policy analyst and member of the Governor's Blue Ribbon Committee on tax reform, Jason Bailey about the events of the day.
Kentucky House Speaker Greg Stumbo says he doesn't expect a tax reform package vote during the current legislative session. Stumbo says such a package doesn't have the 60 votes necessary to pass in the House.
A special commission appointed by the governor proposed reforms that could generate almost $700 million a year in additional revenue.
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.