Glasgow Daily Times, Glasgow, KY

Local News

February 6, 2013

Beshear comes out strong for tax reform

FRANKFORT — Politically secure after re-election to a second term, the Kentucky governor, who has presided over $1.6 billion in budget cuts in five years, called on lawmakers Wednesday evening to step up and tackle the state’s persistently stagnant revenue problems.

Gov. Steve Beshear came out forcefully for tax reform in his annual State of the Commonwealth speech, saying education and Kentucky’s future are at risk and nothing – not even the need to reform the state pension systems – should overshadow the necessity of finding dependable, reliable funding for education.

Beshear seemed to aim his somber, at times almost funereal speech squarely at 138 lawmakers rather than the wider electorate.

Reiterating dire warnings his cabinet secretary, Mary Lassiter, made to the legislature’s budget committees on Tuesday, Beshear said as bad as things look, “the good news is we know what we have to do.

“But delay could be deadly,” he said.

Beshear was referring to recommendations of a Blue Ribbon Commission on Tax Reform led by Lt. Gov. Jerry Abramson that offered 92 recommendations that would raise an additional $650 million to $690 million a year.

The recommendations would increase cigarette and utility taxes as well as extend sales taxes to some unspecified services. It would lower top corporate and individual tax rates while adding an individual tax bracket and reducing several business taxes. The commission also called for a lower cap on total tax deductions and for taxing retiree benefits and income above $30,000.

Read the full story in Thursday's print or e-edition of the Glasgow Daily Times.

1
Text Only
Local News
AP Video
Raw: Families Travel to Taiwan Plane Crash Site Arizona Execution Takes Almost Two Hours Gen. Odierno Discusses Ukraine, NATO at Forum Gaza Fighting Rages Amid Cease-Fire Efforts Mint Gives JFK Coin a Face-lift Creative Makeovers for Ugly Cellphone Towers Ariz. Inmate Dies 2 Hours After Execution Began Crash Kills Teen Pilot Seeking World Record LeBron James Sends Apology Treat to Neighbors Raw: Funeral for Man Who Died in NYPD Custody Migrants Back in Honduras After US Deports Israeli American Reservist Torn Over Return Raw: ISS Cargo Ship Launches in Kazakhstan Six Indicted in StubHub Hacking Scheme Former NTSB Official: FAA Ban 'prudent' EPA Gets Hip With Kardashian Tweet Bodies of MH17 Victims Arrive in the Netherlands Biden Decries Voting Restrictions in NAACP Talk Broncos Owner Steps Down Due to Alzheimer's US, UN Push Shuttle Diplomacy in Mideast
Facebook
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Seasonal Content
Video