Tuesday, May 8, 2012

Tax Commission Meeting

The Governor's Tax Commission met today and heard several presentations, copies of those are available to download HERE, the files are too large to email. The highlights from the meeting are below:

- The consultants hired by the commission gave an initial overview of how they will approach their report which is due Aug. 31. There were a lot of questions/recommendations of data the commission members wanted to see the consultants consider. These recommendations centered around competitiveness with other states, service levels looking back and what will be needed in the future, future industrial needs, etc. The consultants were sensitive to say that they would not determine fairness of a tax or fairness in terms of service levels. The consultants will be at the public meetings and will debrief with the Commission after each meeting to get their thoughts on the public input.

- Paul Coomes with UofL gave a presentation on economic geography. Big takeaway is that Kentucky is a border state and our borders are porous meaning residents have options to buy products, work, and live in multiple states. Taxes can impact those decisions like living in Clarksville, working at Ft. Campbell, buying groceries in Hopkinsville, and buying beer in Tennessee. His message keep in mind Kentucky isn't an island.

- Harkenrider presentation: Gave an overview of current taxes and a range of options with each tax, like sales tax raise the rate or broaden the base by removing exemptions. This was an informative presentation that frames the issues or decisions facing the Commission.

The next meeting of the Commission will be the first of the Commission's "road" meetings and will take place in Paducah. Here are the details:

Tuesday, May 29, 2012
6:00-8:00 p.m.
Paducah Tilghman High School Auditorium
2400 Washington Street
Paducah, Kentucky

More details are available on the Tax Reform Commission's website.

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