Governor Andy Beshear signs HB1 into law, officially reducing Kentucky’s income tax rate

BOWLING GREEN, Ky. – Governor Andy Beshear has signed House Bill One into law, officially reducing the income tax rate in Kentucky from 4% to 3.5%.

He addressed the signing of this bill during his Team Kentucky update Thursday, where he explained why he decided to sign it.

The governor says the economy in the commonwealth is booming and the state has broken many records… but he also wants to fight for Kentuckians when prices are as high as they are right now.

“Things cost too much for our families… that when you go to the grocery store, you continue to see the prices going up. When you fill your car with gas, you worry about your ability to pay other bills at the end of the month. This move will put more money in your pocket while things cost too much,” Beshear says.

He also added the bill has support from both sides of the political spectrum, but he signed it into law because it helps Kentuckians, and that’s where the analysis should always be in his eyes.