Tax Commission looks at how to drum up revenue

FRANKFORT, Ky. (AP) - A panel appointed by Gov. Steve Beshear to recommend tax reforms is considering a proposal that would result in more retirees having their pensions taxed but its nixed the idea of a grocery tax.

Lt. Gov. Jerry Abramson, chairman of the Blue Ribbon Commission of Tax Reform, said Thursday members may recommend tweaking a policy that exempts annual pensions of $41,100 or less from taxes. Abramson said commission members are looking at decreasing that exemption to pensions of $15,000 or less.

Beshear appointed the panel earlier this year to recommend a simpler tax code that would generate enough revenue to meet state needs even during recessions.

The group has already ruled out implementing a 6 percent tax on groceries, which would have generated some $500 million a year.

The group is tentatively scheduled to meet again on Nov. 19.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 178039051 - wkyt.com/a?a=178039051
Gray Television, Inc.