House Majority Leader Jonathan Shell, State Senator Ralph Alvarado and State Budget Director John Chilton will participate in a panel discussion on how the state should move forward with tax reform at the Kentucky Chamber’s inaugural Tax Summit.
The panel, titled “A Policymaker’s Perspective” will be moderated by Mark Sommer, tax attorney with Frost Brown Todd.
The Tax Summit, to be held on September 14, will provide thoughtful discussion on improving Kentucky’s competitiveness through tax reform and allow business leaders, advocates, and citizens an opportunity to hear from and interact with local, state, and federal policy makers.
With much talk surrounding the need for comprehensive tax reform, Gov. Bevin will give the keynote lunch address on what the state’s tax code needs in order to make the Commonwealth competitive.
The Tax Summit will also feature discussions on federal tax reform as Congress is expected to begin work on reforms this fall. In addition to discussion on state and federal taxes, the summit will include panel discussions on local tax implications and infrastructure investment.
The Chamber is partnering with national experts including the Tax Foundation, National Conference of State Legislatures, Council on State Taxation, Council on State Chambers and others to provide assessments on Kentucky’s current tax code and examples for improving Kentucky’s competitiveness while also meeting the need for investment.
The Tax Summit is set for Thursday, September 14 at the Marriott Griffin Gate in Lexington beginning at 8:30 am and concluding at 4:30 pm.
Make sure you are registered for the Tax Summit by visiting the event’s website here.
How will the pension debacle be presented? Those close to this issue know who’s responsible…KY lawmakers! They spent from 1994 till present time $7.8B. For one thine, they raided KY Road Fund of Est. $444M over a period of time, causing $444M not to share in Fed/State Match costing road fund est. $3.6B + lawmakers, through S.B. 62, violated KY court order to fully fund “actuarial contribution” by shorting state retirement $23M for 11 biennium, translating into est. $4.2B cost to state retirees. All the while they (part time state employees) gave themselves a full time retirement.
Then, there’s $13B+ of state tax expenditures they have never reduced; i.e., tax credits, exclusions, exemptions, deferments, deductions and preferential tax rates.
They, there’s an estimated $40B of educational, federal, county, school, religious exemptions growing without any control at all. That’s under the duty & responsibilities.