Revenue Plan Halfway To Becoming Law
Frankfort, KY – To raise revenue in a non-budget year, House leaders needed a super majority, or 60 votes, to pass the tax bill. They got 66. Thirty-four lawmakers, including Republican Rep. Stan Lee of Lexington voted no. "Raising taxes in a time of a bad economy is not good public policy. In all of recorded human history - some five thousand years of recorded human history - not one time has a government ever taxed an economy back into prosperity."
The measure, which doubles the current 30-cent cigarette tax, puts a six-percent retail tax on alcohol and raids the state's rainy day fund now moves to the Senate. Senate President David Williams, who supports the bill, says the chamber will vote on it, on Friday.