Beshear shares message behind decision on lowering Kentucky’s income tax

WNKY Staff,
andy beshear
Source: Office of Governor Andy Beshear

FRANKFORT, Ky. – Gov. Andy Beshear has provided a statement on his decision to sign legislation to lower Kentucky’s income tax.

In his message, the governor stated Friday, “First, things are tough out there. Inflation is real. And while gas prices have come down, the grocery store bill is way too high. While this issue is temporary, it’s still going to last for some time into the foreseeable future, and our people need relief. And the best way to provide that relief would’ve been a reduction in the sales tax – a reduction in the sales tax for a certain period of time would’ve meant things that cost too much cost less. But the General Assembly refused to go that route, so what I’m faced with is a bill that will lower the income tax that has some long-term repercussions for potentially funding state services but would put at least a couple hundred dollars in the pockets of most Kentuckians at a time when they need it.”

The governor went on to state that the Kentucky economy has had its best January in history and the best income tax, despite it recently being lowered.

Beshear further stated, “So right now, our economy can certainly sustain not just the decrease in the income tax that has already happened but another one as well. And again, while there are some long-term repercussions. I have one bill in front of me – one bill about whether or not we can help our people at this time of high inflation. So today, I’m going to sign House Bill 1, and it’s going to lower the income tax on Kentuckians. And I hope as we get through this period where, again, groceries cost too much, that this helps everybody out there at least a little bit.”

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