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Experts Say KY Should Hit Pause on Tax Cuts Amid Recession Fears

The amount of income tax Kentucky residents pay is slated to decrease slightly beginning next year, but experts say the Federal Reserve s decision to hike interest rates has set the stage for an impending recession, and they re concerned more tax cuts could drain the state budget and impact critical public services. Jason Bailey, executive director of the Kentucky Center for Economic Policy, said the state uses tax funds to help communities rebuild from natural disasters. He argued given the level of devastation from the recent flooding in eastern Kentucky, the state must be able to help provide safe housing, water access and other basic needs for thousands of people as winter approaches. . ....

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WI Educator Social Security Vital for Eligible Teachers / Public News Service

Wisconsin is one of 33 states allowing Social Security benefits to be extended to teachers. As the future of the program is debated, a retired educator said keeping certainty in place is crucial if the country doesn t want more people leaving the profession. On the campaign trail, some Republican candidates have floated ideas opponents argued would either cut or eliminate the program. . ....

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Our View: Poverty report is wake-up call for legislative action

EDITOR S NOTE: This editorial has been altered from its original form to reflect a correction on the group who commissioned the report. ....

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Health Care Subsidy Extension a Relief for WI Small Businesses / Public News Service

Average Affordable Care Act premiums in Wisconsin would have been 56% higher this year without temporary subsidies from the federal government, and small-business advocates say a new extension is a big help when smaller firms are trying to get back on their financial feet. The Inflation Reduction Act included a provision to extend the ACA s premium subsidies through 2025. The extra tax credits are from an earlier pandemic relief package and were set to run though this year. . ....

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MN Report Aid Helps But Many Have Trouble Escaping Poverty / Public News Service

For Minnesota to make big gains in reducing poverty, its safety net needs to be more robust, according to a new report highlighting disparities residents around the state are experiencing while elevating themselves from hardship. Minnesota s official poverty rate is 8.7 %, which is below the national average. Angie Fertig, social policy research scientist at the University of Minnesota, said when you dig deeper, there are broad levels of unevenness. . ....

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