OPINION: Ky. Chamber of Commerce commends state legislators for tackling pensions and taxes
While the process was difficult at times, legislators tackled tough issues like the state's pension system, to help stop the bleeding at a time when Kentucky taxpayers are facing $60 billion in unfunded pension liabilities.
By: Dave Adkisson
President & CEO
Kentucky Chamber of Commerce
The recently-completed session of the Kentucky General Assembly saw major reforms passed that will move the state forward. While the process was difficult at times, legislators tackled tough issues like the state's pension system, to help stop the bleeding at a time when Kentucky taxpayers are facing $60 billion in unfunded pension liabilities. The legislature also passed a tax package to make our state more competitive, and bring in much needed revenue. They also made these changes while passing a budget that prioritizes education funding at record levels.
Because the Kentucky Chamber had called for reforms in both taxes and pensions, we commend the General Assembly for taking these difficult steps toward improving Kentucky's competitive position, encouraging investment and creating quality jobs.
Outside of tackling the big three issues-budget, taxes, and pension reform-the legislature also passed bills vitally important to the success of Kentucky's business community.
New laws will be on the books as a result of Chamber initiatives, such as addressing the state's workforce struggles by ensuring that students are learning those basic workforce skills they need to be ready for their careers. The Chamber also championed much needed reforms to Kentucky's outdated workers' compensation system.
There is still more work to be done. The Kentucky Chamber will continue to work with policymakers to ensure Kentucky becomes more competitive and the best place for you to do business. I'm Dave Adkisson and that's my Point of View.
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