Beshear, Cameron trade jabs over economy, tax cuts

(The Center Square) – Kentucky Gov. Andy Beshear warned eliminating the personal income tax would lead to severe changes in the state.

Speaking during his weekly press conference in Frankfort, Beshear, a Democrat running for re-election this year, criticized a proposal made Wednesday by Attorney General Daniel Cameron, the Republican challenger in the Nov. 7 election.

“You cannot go to 0% income tax like Daniel Cameron has pushed without either a massive sales tax increase, which is what he would do, or the gutting of K-12. education, higher education and health care coverage for millions of Kentuckians.”

The Kentucky General Assembly, controlled by Republican supermajorities during Beshear’s tenure, passed a tax reform bill last year over the governor’s veto. That bill established triggers for reducing the income tax and eventually eliminating it if certain economic conditions were met.

That law has already led to the tax being cut from 5% to 4.5% this year and 4% next year. It also expanded the number of services under Kentucky’s 6% sales tax.

- Advertisement -

While the income tax cut has been triggered for 2023 and 2024, State Budget Director John Hicks informed legislative leaders earlier this month that conditions were not met for an additional tax cut.

In a statement Thursday afternoon, Senate Budget Committee Chairman Chris McDaniel, R-Ryland Heights, said the law is still a success and saved Kentuckians $1.8 billion.

“Naysayers have often criticized comprehensive tax reform and the Kentucky General Assembly’s responsible lowering of working Kentuckians’ income taxes,” McDaniel said. “However, this development is evidence we appropriately weighed the importance of lowering taxes with the need for critical government functions such as education, corrections and more.”

Cameron, during his campaign announcement Wednesday, called out Beshear for vetoing bills that cut taxes while also taking credit for the job growth occurring in the state.

He said if he beats Beshear in November, he would work closely with legislative leaders to further simplify the state’s tax code.

“I will be the governor who eliminates the income tax,” Cameron said.

- Advertisement -

Beshear countered Thursday by reiterating the economic successes the state has witnessed during his administration. That included 10 companies receiving incentives earlier Thursday to relocate or grow existing operations in the state.

“I’ve delivered record investment, 47,000 new jobs,” the governor said. “My opponent has delivered two posters with platitudes. There is a proven record, and then there are separate plans that won’t work.”

spot_img
spot_img

Hot this week

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Sports betting bill still alive in Georgia House

(The Center Square) – A bill that would allow...

DOJ Sends Election Monitors Amid Transparency Debate

(AURN News) — I’m Ebony McMorris. The Justice Department...

Health Department says 1.4M to miss SNAP benefits

(The Center Square) – Food assistance for 1.4 million...

NYC group sues over SNAP work requirements

(The Center Square) — A New York City-based advocacy...

WATCH: Primary election petitions filed; redistricting consideration for veto session

(The Center Square) – In today's edition of Illinois...

Texas sues Tylenol companies over autism claims

(The Center Square) – Texas Attorney General Ken Paxton...

Carmouche defends parish coastal suits; critics call it lawsuit abuse

(The Center Square) − John Carmouche, who represents parishes...

Feds prevent 6,525 known, suspected terrorists from entering US

(The Center Square) – In a few short months,...

Showpiece attraction wraps with nearly 1M attending

(The Center Square) – Agriculture, the showpiece of North...

More like this
Related

DOJ Sends Election Monitors Amid Transparency Debate

(AURN News) — I’m Ebony McMorris. The Justice Department...

Health Department says 1.4M to miss SNAP benefits

(The Center Square) – Food assistance for 1.4 million...

NYC group sues over SNAP work requirements

(The Center Square) — A New York City-based advocacy...

WATCH: Primary election petitions filed; redistricting consideration for veto session

(The Center Square) – In today's edition of Illinois...