Yet, in 1999 KY's part-time fully pensioned lawmakers passed a "tax cut" that did not cut "state expenses more state tax expenditures".
This action drove higher the deficit spending they were warned about in 1994!
In 1995 KY lawmakers violated a 1994 KY Court decision that brought about KY lawmakers' cutting the state retirement "actuarial contribution" by $23 million per biennium. What did they do with the $23 million per biennium they took from state retirement? They spent it on their "pet projects'!
In 1994 they continued transferring KY Road Fund dollars to General fund to cover their deficit spending. They did not want to raise taxes to cover their spending so they robbed Peter to pay Paul scenario.
In 2015 the market value of the estimated $400 million KY lawmakers transferred from KY Road Fund and never paid back is valued at $3.6 BILLION DOLLARS!
In 2015 the market value of the tax dollars taken from state retirement fund is valued at $4.2 BILLION DOLLARS.
Add to that the following state expenses and tax expenditures that have become obsolete but continue to siphon tax dollars from each new budget:
Sixty some outdated KY taxes in need of review to modernize and eliminate obsolete taxes and eliminating them;
eliminate $350 million of an estimated $1 billion of state tax expenditures;
Eliminate $400 million of obsolete corporate tax shelters;
Evaluate and/or eliminate non-merit pay of $100,000 or more;
Eliminating truck weigh-distance tax by combining revenues of motor fuels, weight-distance tax with state truck registration fees, then amending KRS to eliminate truck weight-distance tax creating an economic development ploy to motivate high paying trucking industry jobs into KY;
DOES KENTUCKY'S TWO GUBERNATORIAL CANDIDATES OF 2015 EVEN KNOW ABOUT WHAT KENTUCKY LAWMAKERS & PAST ADMINISTRATION HAVE DONE TO KENTUCKY'S BUDGET? WILL THEY HAVE THE POLITICAL WHEREWITHAL TO MAKE CUTS NECESSARY TO BRING KENTUCKY BACK TO SOLVENCY?
