Ky. taxpayers would receive $500 under proposed tax rebate plan
FRANKFORT, Ky. (WKYT) - Some Kentucky lawmakers are proposing a tax rebate plan.
The plan has been added to Senate Bill 194, which deals with the governor’s involvement in the budget process. The plan has already passed a Senate committee.
Senator Chris McDaniel, R-Taylor Mill, says if this bill passes, each single working taxpayer will receive $500 in the form of a tax rebate that could be paid out later this year.
The Senate Appropriations and Revenue Committee passed the bill with a 7-0 vote. However, there did not appear to be any Democrats in that meeting, which was a specially called meeting of the committee.
Senator McDaniel says this is possible because of the conservative budgeting the state has accomplished.
“The average Kentuckian has seen about a $267 a month increase in the cost of living,” Senator McDaniel said. “This would be able to do some good work to offset that.”
Senator McDaniel says each taxpayer can expect to receive the money in the late spring or early summer in the same way they would receive a tax refund.
According to what is in the bill, the maximum each household would receive is $1,000.
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