Most Active Stories
- Lexington's New Econ. Development Fund And Demise Of Desha's On BizLexChat
- Local Music Monday: Fifth On The Floor Frontman, Justin Wells
- Salvation Army Gets Extra Special Donation In Owensboro
- UK A Capella Group Set To Debut On "The Sing-Off"
- Walton Avenue Corridor, VisitLEX Part Of This Week's Bizlex Chat
Fri September 21, 2012
Abramson Tells Business Group Real Tax Reform Is Possible
LEXINGTON, Ky. - Lieutenant Governor Jerry Abramson told a group of business leaders that his current commission studying tax reform is genuinely making an effort to affect big changes to the way the state gathers revenue.
Speaking today at the Commerce Lexington Public Policy Luncheon, Abramson said the panel has just received a lengthy list of options from three area economists.
“We have a 114 page document that the consultants gave us. And there were things like expand the sales tax to services, put sales tax on groceries was an option, put sales tax on prescription drugs was an option. So those as well as different changes and restructuring business taxes…all of those are options.”
Abramson stressed these are options, not recommendations.
“There were members on the commission I’m sure as you can imagine that were uncomfortable with some of the suggestions. And so we will see over the next month, month and a half …because hopefully we are going to make this recommendation to the governor before Thanksgiving.”
Abramson says once the report is delivered, he and the governor will work to find consensus in both the House and Senate to pass some version of a tax reform bill; adding that the "cost of doing nothing" is too high.