Rep. Bill Farmer unveils tax reform proposal

FRANKFORT, Ky. (AP) - Republican state Rep. Bill Farmer of Lexington is wasting no time in promoting his tax reform plan.

Farmer unveiled the proposal on Wednesday, a day after Gov. Steve Beshear called for unspecified tax reforms in his inaugural speech.

Farmer, a tax accountant who has served in the legislature since 2003, said the state's existing tax code is more than 70 years old and needs overhauling. His plan would bring major changes to the way income taxes and sales and use taxes are assessed.

House GOP Floor Leader Jeff Hoover of Jamestown said Farmer's plan isn't perfect but could be the starting point for discussions.

(Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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