Another change in Kentucky’s financial outlook has the state’s business leaders calling on the General Assembly for immediate pension reforms.
Standard and Poor’s has changed Kentucky’s outlook to negative, citing the state's large unfunded pension obligations as the main reason.
In response, the Kentucky Chamber of Commerce, as well as 50 other business groups, held a news conference to demand that lawmakers pass the recommendations from last year’s pension task force as they were presented.
Chamber President and former Owensboro mayor David Adkission said the change is the best reason for why reforms need to happen soon.
The Kentucky Chamber of Commerce, in partnership with the Bill and Melinda Gates Foundation and the State Department of Education, is promoting dialogue about the future of education in the Commonwealth. The business organization says the goal of creating a more highly-skilled workforce will depend upon the success of new education initiatives in the state.
The Kentucky Chamber of Commerce is taking a firmer stand on conservative issues. Republican legislators have criticized the chamber in the past for supporting Democratic-led proposals like expanded gambling and a higher dropout age while staying quiet on so-called right to work and prevailing wage laws.