A Kentucky nonprofit says a state earned income tax credit would help working families.
Kentucky Youth Advocates released an issue brief that says the credit would piggyback onto the federal earned income credit. That could yield up to $337 per applicant, with little to no administrative cost to state government.
The proposal could cost up to $134 million per year. But KYA Executive Director Terry Brooks says it would help pay for itself by putting money back into local economies.
“We know that families who get earned income credits are not going to take that refund and put it in their off-shore account. Instead, they’re going to be spending money at the local hardware store, at the local car repair shop, at the appliance store. They’re going to be taking their kids to the department store to buy them clothes for school.”
Neither Democratic nor Republican leadership is voicing support for comprehensive tax reform in the next year. But the earned income tax credit has bipartisan support on the federal level, and Brooks says the measure would likely enjoy the same in state government.
Since the beginning of the 1990's, the percentage of Kentucky's population comprised of immigrants has soared by more than 300%. While their overall number is still small, WKU economics professor Dr. Brian Strow says their effect is being felt and it's a net plus.
Strow's study shows immigrants locally have a higher employment percentage than native born people and a higher mean income. There's also a higher number who are self-employed.
Joe Corcoran spoke with Dr. Strow about the benefits of immigrant entrepreneurs.
Owensboro leaders announced Friday a project that will invest 44 million dollars in the city's downtown area. A key portion of that investment will be a new convention class Holiday Inn hotel, to be located on the west side of the newly planned convention center. In addition, Boardwalk Pipeline Partners LP has come to a preliminary agreement with the Riverfront Jam, LLC developers to relocate the Owensboro office to a downtown location.