WAVE 3 News Editorial - January 6, 2015: Funding
LOUISVILLE, KY (WAVE) - Kicking the can down the road must stop for Kentucky legislators. They need to take decisive action on a number of money matters this session.
Address head on the more than $30 billion of unfunded liabilities for the Kentucky Teachers' Retirement System and the Kentucky Retirement Systems. Borrowing money to pay off the debt is not the answer. State and local government workers and teachers expect commitments to be honored. The state has only about half of the money they owe teachers.
Lawmakers should also cap interest rates on payday loans. Exploiting those who are most vulnerable creates more problems. Lawmakers should also follow their own law regarding lottery proceeds and fully fund college financial aid.
They must also implement tax reform to stabilize the platform to deliver needed revenue to the treasury, and let voters decide whether to let local communities have the option to propose sales taxes for projects people in those communities get to vote for or against.
The time for lawmakers to earn every cent of their salary is now.
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