Kentucky Governor Praises Tax Foundation Ranking in State of the Commonwealth Speech
February 16, 2011
Kentucky Governor Steve Beshear (D) delivered his State of the Commonwealth address on February 1, in which he applauded his state’s efforts to keep taxes low to increase the state’s competitiveness. Beshear was pleased that “last October, the national Tax Foundation ranked Kentucky’s Business Tax Climate 19th best in the nation.” Beshear noted that Kentucky’s ranking is a better ranking than four of its neighbors: Illinois (23), Ohio (46), West Virginia (37), and Tennessee (27).
Beshear hopes his state’s improved competitiveness ranking will allow it to attract businesses from these states, especially Illinois which Beshear noted has “raised its individual income tax 66 percent and its corporate income tax 46 percent.”