February 11, 2021 4:33pm
GLI outlines key state budget priorities
As lawmakers in Frankfort continue working through a difficult state budget process, GLI is advocating for key priorities to support economic growth and recovery in our region. Some of GLI’s top priorities include:
- Provide as much funding as possible to pay down Kentucky federal UI debt, which will alleviate the burden of UI tax increases on employers and help drive our economic recovery.
- Stabilize Kentucky’s childcare sector by increasing reimbursement rates for childcare
providers and businesses by $2 per child per day.
- Continue building on past increases to SEEK funds to drive student success in our schools and provide all necessary funds to support Family Resource and Youth Services Centers.
- Full funding for Kentucky’s public pension systems to continue maintaining fiscal stability.
- Support workforce participation through providing public transportation agencies
million in new funding to offset the loss of federal toll credits.
- Support tourism in Greater Louisville by allocating necessary funds to key assets like the Kentucky Center
- Fully fund Kentucky’s Small Business Development Center, which has been a key asset to
small businesses in our region throughout the pandemic.
- Fully fund the Kentucky Work Ready Scholarship, apprenticeship, adult education programs, and GED testing and increase funding for higher education institutions.
- Restore funding to the Kentucky Tobacco Prevention and Cessation budget
In addition to priorities such as the ones listed above, GLI is also stressing the importance of allowing businesses to deduct from their state income taxes expenses paid with forgiven Paycheck Protection Program loans. These deductions are already allowed under federal law and in states like Indiana. GLI is urging Kentucky to conform with federal treatment of this issue, which will help businesses in our region avoid state tax increases.