Video & Transcript Research : 'bargaining unit 1'

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OK

Oklahoma 2026 Regular Session

Energy 2ND REVISED Feb 26th, 2026 at 09:30 am

Energy

Transcript Highlights:
  • With me almost maybe 30-40 years ago, he said that it's questions that unite us and answers that divide
  • And I do fully believe this: that there are industries in Oklahoma, in the United States, in North America
KY
Transcript Highlights:
  • We have one item on the agenda: House Bill 1, an act relating to individual income tax rate, sponsored
  • income tax rate, a change that would be proposed to go to a rate of 3.2% on net income effective January 1,
  • the amount of difference between actual revenue and actual expenditures were sufficient on House Bill 1.
  • income to go to a rate of 32% on net income effective<00:02:31.200> January<00:02:32.160> 1<
  • /c> effective January 1 effective January 1 2026<00:02:35.040> uh<00:02:35.200> this<00
Summary: The House Standing Committee on Appropriations and Revenue met on January 8, 2025, with a full roll call and a welcome to new members. The committee took up its only agenda item, House Bill 1, sponsored by Chair Jason Petrie, which would implement a further 0.5% reduction in the individual income tax rate, effective January 1, 2026, with conforming date changes tied to the state’s existing tax-cut framework under House Bill 8 and the budget director’s certification of reserve and revenue conditions. Jason Bailey of the Kentucky Center for Economic Policy testified against the bill, arguing that Kentucky’s recent permanent income tax cuts were enacted during an unusual period of temporary pandemic-era revenue surpluses and federal aid, and warning that another cut could worsen future budget pressures. He said the proposed reduction would cost about $718 million annually when fully phased in and would increase risk to state services, especially in poorer rural areas that rely heavily on state funding. In response to questions, the sponsor and other members described the bill as limited to the income tax rate and said any future reversal would require statutory change. Representative Gentry asked about the broader policy goal of moving toward a more consumption-based tax structure and whether the income tax cuts were intended to support growth and population retention. He said he had seen anecdotal signs of housing and population activity in Jefferson County and surrounding areas, though he acknowledged the difficulty of proving causation. He ultimately passed on the bill, saying he wanted more data and was concerned about benefits flowing more to higher-income taxpayers. The committee then voted 17-0 with 3 pass votes to report House Bill 1 favorably to the House floor.
KY
Transcript Highlights:
  • on January 1, 2026.
  • on January 1, 2026.
  • on January 1, 2026.
  • on January 1, 2026.
  • on January 1, 2026.
Summary: The Appropriations and Revenue Committee met with a quorum and welcomed several new members. The main item of business was House Bill 1, which would reduce the individual income tax rate from 4% to 3.5% beginning January 1, 2026. The chair described the bill as the final step in a deliberate, multi-year process to lower income taxes while forcing regular legislative choices about whether to increase spending, hold it steady, or reduce it further. In explaining support for the bill, the chair emphasized that tax reductions should only occur when the Commonwealth can reasonably cover its expenses, pointing to major state priorities such as foster and adoptive services, Kentucky State Police, Medicaid, and the justice system. The chair argued that cutting revenues without corresponding spending reductions is not serious policy and urged members to demand specific spending cuts from anyone proposing faster tax reductions. The committee voted on the bill and approved it unanimously, 11-0. House Bill 1 was reported favorably to the floor.