Governor Unveils Tax Modernization Plan

Frankfort, KY – Governor Fletcher says his tax modernization plan is
designed to stimulate the state's economy and create
jobs. At a Frankfort news conference, Fletcher said
the plan will eliminate or reduce some income taxes,
will raise cigarette taxes, and will overhaul the state's
business tax structure.

The Fletcher Administration predicts the new plan
will create about seven thousand jobs in the next two
years. The Governor stresses that the proposal has
bi-partisan support.

The proposal calls for a 26 cent per pack increase
in cigarette taxes in the state, and a statewide lodging
tax of one percent to fund tourism initiatives. The proposal
also calls for a 7.62 percent broad-based communications
excise tax on cable and satellite television providers.