The Kentucky Senate has voted 30 to five to lower the state’s income tax rate from 4.5% to 4%, starting next year. Senate Budget Committee Chair Chris McDaniel said tax policy is a key lever for economic development in Kentucky. Speaking against the tax reduction, Lexington Senator Reggie Thomas said the lower rate would benefit the wealthy more while new taxes on certain services will hit the poor harder.
“Why we want to engage in this reverse Robinhood mentality confounds me, we want to take from the poor and give to the rich. It makes no sense at all,” said Thomas.
