Saturday, January 23, 2010
Legislators Consider New Spending Plan
KENTUCKY....
Friday morning, House Speaker Greg Stumbo and Senate President David Williams voiced their opinion that expanded gambling legislation was a dead issue. Stumbo directed the leaders of the House budget committee to begin drafting a new spending plan. According to Legislative Research Commission estimates, applying Kentucky’s sales tax to most services would generate $1 billion in revenue over the next two years. Stumbo has asked legislators to work with LRC economists to draft a tax-reform proposal. But, House leaders say they doubt there's enough time to overhaul the state's complicated tax system before the legislative session ends in April. Beshear says he expects the legislature to find the same options as he found...deep cuts, tax increases or more federal assistance. "None of these are good options," Beshear said.
Friday morning, House Speaker Greg Stumbo and Senate President David Williams voiced their opinion that expanded gambling legislation was a dead issue. Stumbo directed the leaders of the House budget committee to begin drafting a new spending plan. According to Legislative Research Commission estimates, applying Kentucky’s sales tax to most services would generate $1 billion in revenue over the next two years. Stumbo has asked legislators to work with LRC economists to draft a tax-reform proposal. But, House leaders say they doubt there's enough time to overhaul the state's complicated tax system before the legislative session ends in April. Beshear says he expects the legislature to find the same options as he found...deep cuts, tax increases or more federal assistance. "None of these are good options," Beshear said.
# posted by Homer Owens @ 1:57 AM 
