Tagged: Kentucky tax reform

Gov. Steve Beshear says he's still considering whether to call a special legislative session for later this year.

A few issues remain unresolved from the last regular session, mainly redistricting and further tax reform. And Beshear has been pushing for tax reform to pay for the state's education system.

Kentucky lawmakers start their legislative session today where they're expected to consider tax reforms and search for ways to shore up the financially troubled pension system for government retirees. A task force appointed by Gov. Steve Beshear has recommended a series of changes to the state tax code that could generate more than $600 million in additional revenue. A separate legislative task force has recommended pumping more money into the pension system, which has a $33 billion unfunded liability.

  Kentucky's Blue Ribbon Tax Commission has wrapped up its work, but Governor Steve Beshear says the biggest challenge to revising the tax code still remains.

Tax reform is on the tip of the tongue every few years in Frankfort. But historically, not much has been accomplished. Beshear will get the commission's latest recommendations for tax reform this week. And it'll be up to him to convince lawmakers that the panel's work is worth turning into law.

After a nearly year-long review, Kentucky's Commission on Tax Reform has approved recommendations that could generate nearly $700 million a year. Some $500 million of that would come from individual income taxes, with another $200 million coming from expanding the state's sales tax to household utilities and several services that have traditionally been exempt.