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Kentucky Surplus Sparks Tax Debate | Lexington News
Kentucky just posted its seventh straight budget surplus, thanks to nearly $16 billion in General Fund receipts—$300 million more than projected—despite recent cuts to Medicaid and senior meals. Governor Beshear sees this as an opportunity to reverse those cuts and support families, driven by strong sales and income tax collections. But analysts warn that revenue growth isn’t keeping up with inflation, and ongoing income tax cuts may jeopardize essential services like schools and healthcare, fueling debate over whether to continue eliminating the state’s income tax. Listen in comfort:Get a…
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