Report to Governor’s Blue Ribbon Commission on Tax Reform by Economic Consultants

Authors

William Hoyt, University of KentuckyFollow
William Fox, University of Kentucky
Michael T. Childress, University of KentuckyFollow
James Saunoris, University of KentuckyFollow

Abstract

Excerpts from the executive summary:

Two basic points come from our analysis of Kentucky’s tax system: a broader tax base is needed so that revenue can keep pace with future economic growth, and changes are needed to improve Kentucky’s economic competitiveness.

Without fundamental reforms Kentucky could face a $1 billion shortfall by 2020, and could find itself at a competitive disadvantage to neighboring states for business growth, retention, and recruitment.

The options we present below can improve future revenue growth and economic competitiveness—which are evaluated with respect to other important factors, such as fairness and simplicity. The Commission should view these options as alternative routes to a different tax system, but with varying implications for adequacy, elasticity, competitiveness, fairness, and simplicity.

Document Type

Report

Publication Date

9-19-2012

Notes/Citation Information

Prepared for: Governor’s Blue Ribbon Commission on Tax Reform.

Repository Citation

Hoyt, William; Fox, William; Childress, Michael T.; and Saunoris, James, "Report to Governor’s Blue Ribbon Commission on Tax Reform by Economic Consultants" (2012). CBER Research Report. 7.
https://uknowledge.uky.edu/cber_researchreports/7