By Mayor Greg Fischer
Over the last eight years, Louisville has built incredible momentum: 80,000 new jobs, 2,700 businesses, $13 billion invested. Among peer cities, we have the fourth lowest ratio of city employees to population. We run a lean government, and still are poised to become America’s next breakout city.
Now, we’ve been hit by a large, increasing pension bill from the state, which is the main factor in a $65 million budget hole over the next four years.
Do we pay this bill by drastically cutting city services, closing libraries and firehouses, and shrinking our police force? By making cuts impacting our most vulnerable? Cuts that will slow our momentum? Or, do we deal with this now to keep growing our city?
The difficult reality is, the best way to meet this challenge and keep our momentum is to raise revenue. That's why I've proposed to Metro Council that we invest in our city and our future through a gradual increase in insurance premium tax. It would be the first tax increase in decades.
Supporting this approach is not easy, but it's necessary.
Because the question is, what kind of city do we want to be? To ensure a city that attracts global talent, a city where everyone thrives, we must invest in our people and neighborhoods, and move forward together. If you agree, please urge Council to vote for new revenue.
I'm Mayor Greg Fischer and that's my point of view.