August 1, 2018

The Courier Journal: Three More Reasons the Tax Cut Is Bad for Kentucky

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Reason No. 2: HB487 raises very little “net” revenue.

The nearly $900 million in new taxes will only net the state about $180 million per year because the rest is being given back in tax cuts and credits. The Institute on Taxation and Economic Policy reports that the top 5 percent of earners will receive net tax cuts, while the other 95 percent will pay for them in net tax increases. Read more