“I know right now things cost too much for our families. That when you go to the grocery store, you continue to see the prices going up. When you fill your car with gas, you worry about your ability to pay other bills at the end of the month,” Beshear said. “And right now in Washington, we have a president that is gambling on tariffs that would increase prices across the board.”
The individual income tax in Kentucky has been reduced by increments of a half-percentage point since 2022 when a tax overhaul was passed. The decreases are on the condition of meeting revenue benchmarks that meet state spending requirements.
The Governor said "the state's booming economy" more than meets those measures.
“This has been supported by Republicans. It’s been supported by Democrats. In the end, I support it because it's going to help you. I will always do what's best for our families. That's my job.”
The tax cut is expected to save Kentucky taxpayers $718 million annually.
Several Senate Republicans said this latest cut is another step toward their goal of eliminating the individual income tax entirely.
