A commission tasked with coming up with elements of a new tax code for Kentucky held its second meeting in Frankfort today.
The group is chaired by Lieutenant Governor Jerry Abramson and is made up of business leaders from across the state.
During the all-afternoon meeting, the group received overviews of the dozen tax commissions that came before the current one.
And while giving the highlights, Greg Harkenrider, an economist in Governor Steve Beshear’s administration, told members that one change won’t cure all ills.
“Very few tax reform changes help everything across the board. Very few, especially ones that bring in money,” he says.
Harkenrider told the commission about past proposals that were accepted and rejected. And he included breakdowns of what effects changes to income, property and cigarette taxes would have.
The commission was also supposed to reveal a consultant to help draft any changes to the tax code, but Abramson says a selection has been delayed.
“Mentioned to you that we hoped to have a consultant on board as of this meeting, it’s taking a little longer. And we will have that consultant, as soon as he or she is selected, we’ll send out an e-mail to you as to who that person or persons might be. And we will have them at the next meeting and that meeting will be in May,” Abramson says.
The commission isn’t expected to make any solid decision on tax code reforms until November. But they will meet often until then, and plan to hold meetings in all six Congressional districts by that date.
