Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
House Appropriations committee reports favorably on bill to cut Kentucky individual income tax to 3.5%
Summary
The House Standing Committee on Appropriations and Revenue voted to report House Bill 1 favorably after testimony warning of large, long-term revenue losses. The committee vote was 17 yes, 0 no, and 3 pass; the bill would reduce the individual income tax rate to 3.5% effective Jan. 1, 2026.
FRANKFORT, Ky. — The House Standing Committee on Appropriations and Revenue voted to report House Bill 1 favorably Wednesday, advancing a measure that would reduce Kentucky—s individual income tax rate to 3.5% beginning Jan. 1, 2026.
The bill, sponsored by Representative Jason Petrie, drew a single witness for the committee: Jason Bailey, executive director of the Kentucky Center for Economic Policy, who told the committee the change would deepen long-term revenue shortfalls and pose risks to state services and poorer rural counties. "Another cut would cost $718,000,000 a year, once fully phased in, for a total of $2,200,000,000 in annual loss revenue from the 3 half point cuts,"…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
