By Bill Hollander
Louisville Metro Council
You've probably heard about the huge new pension bill Louisville must pay.
This $60 million burden has nothing to do with decisions made in Louisville – we've always paid our pension bills and balanced our budgets. In reality, this new bill is the result of bad pension decisions in Frankfort.
The Mayor argues that cutting city services to cover these new pension costs will stop Louisville's momentum and proposes paying this entire bill through increased taxes.
On the other side, some folks are saying there are easy cuts to be made and we don't need any new revenue. But none of those people have listed specific cuts that would come close to covering the pension bill we face.
There's simply no room in the budget to address all of the pension increase without major cuts impacting frontline staff and service.
On Thursday, the budget committee approved a compromise. Our balanced approach will lessen the reductions in services but still require us to cut over $30 Million, cuts that will be felt in every neighborhood and by every resident. It has a much smaller tax increase than originally proposed, with every dollar dedicated solely to covering increased pension costs.
It's time to come together and enact a balanced, responsible approach to deal with the pension mess Frankfort has handed us.
I'm Councilman Bill Hollander. And that’s my Point of View.