The Times Journal & Russell County News
Sunday, Apr. 20, 2014 — RUSSELL SPRINGS & JAMESTOWN, KENTUCKY — russellcounty.net
Get online news updates FREE - Subscribe:  [?]
Google

House Committee Approves Legislation to Benefit Kentucky’s Working Families and Employers


Members of the Kentucky House Economic Development Committee voted unanimously today to pass HB 592, an economic stimulus bill aimed at moving more Kentuckians into the workforce.

The bill, sponsored by State Representative Keith Hall (D-Phelps) would create a state-level work opportunity tax credit for employers (WOTC) and a state refundable earned income tax credit (EITC) for working families in the Commonwealth. In addition to Hall, nearly 40 members of the State House have indicated their support for the measure by signing on as cosponsors.

The bill is also supported by a diverse coalition consisting of more than forty organizations including the Kentucky Retail Federation, Kentucky Youth Advocates, the Catholic Conference of Kentucky, the Homebuilders Association of Kentucky, the Kentucky Domestic Violence Association and the Kentucky Chamber of Commerce.

“This bill is really the ultimate economic stimulus package because we’re bringing people into the workforce, many for the first time, through the WOTC and allowing them to keep more of the money they earn through the EITC. Many of these folks have never been able to hold a consistent job because they can’t make enough to pay for basic needs like transportation and childcare. The EITC credits will help them take home more of the money they earn so they can afford those basic necessities,” stated Rep. Hall.

The Work Opportunity Tax Credit would provide an incentive for employers that invest in hiring individuals who might otherwise meet overwhelming challenges in their search for employment.

Committee Chair and Rep. Ruth Ann Palumbo (D-Lexington), added “What this bill does for Kentuckians who need help is commendable and it needs to move forward but probably won’t this session because of the fiscal impact. However, the work we do now will pay off when economic times are better.”

Under HB 592, employers eligible under the federal Work Opportunity Tax Credit may claim a nonrefundable state tax credit equal to 5 percent of the first $6,000 in of wages paid to qualified individuals.  This mirrors the incentives available under the federal WOTC.

“The WOTC incentives included in HB 592 will help offset the investment employers make in training and educating employees who otherwise have little or no work experience,” Kentucky Retail Federation President Jan Gould said. “In return, employees can gain the skills and confidence that they need to be successful.”

The Earned Income Tax Credit would provide a way for Kentucky’s working families to keep more of what they earn for the daily essentials for living groceries and paying the rent.

“Anytime we can encourage people to be more productive and can reward people for working, everyone wins,” Rep. Brad Montell (R-Shelbyville) told committee members before voting for the bill.

Currently, 1 out of every 5 Kentucky tax filers receives the federal credit.  More than 350,000 Kentuckian’s receive either a tax credit, while some even get money back.  The key to qualifying for the tax credit is you must be working. 

“I’m very pleased to see this piece of legislation and appreciate how these groups have worked together to bring it to us,” Rep. Teddy Edmonds (D-Jackson) added. “We have people who want to work, to provide for their families and build their future. This bill removes the barriers that block their way to employment.”

Under HB 592, a refundable state Earned Income Tax Credit would allow qualifying workers to receive a state income tax credit of 5 percent of the federal amount for which they are eligible. 

“This bill is a commonsense way to help low-income persons and those struggling to find a job. It increases the opportunities for employment of certain veterans, food stamp recipients, recipients of supplemental security benefits, those in many of our poorest counties, ex-felons, and it provides low-income employees an incentive to work,” Executive Director of the Catholic Conference of Kentucky Ed Monahan added. “This is a moral opportunity to help those in a state with the 9th highest rate of poverty in our nation.

Content Management Powered by CuteNews
SUBSCRIBE to The Times Journal: CLICK HERE

SPONSORED LINKS


Publish Yourself PUBLISH YOURSELF
You can publish news about your group or organization directly to our site, using your computer.
CLICK HERE
Laker Band LAKER BAND
Visit the award-winning official web site for the Russell County Marching Band.
CLICK HERE
Lake Cumberland Web Cams LIVE WEB CAMS
Views of Lake Cumberland as it is right now, from a number of web cams.
CLICK HERE
Lake Cumberland LAKE CUMBERLAND
lakecumberland.com
Official site for Lake Cumberland with everything for the lake visitor and fisherman.
CLICK HERE
The Times Journal is a weekly newspaper issued on Thursdays. It was first published on October 13, 1949, by Andrew J. and Terry Norfleet.
-
P.O. Box 190
120 Wilson St.
Russell Springs KY 42642
Phone: 270-866-3191
Fax: 270-866-3198
Russell County News is a weekly newspaper issued on Saturdays, and is mailed free to every address in Russell County, Ky. It was first published on February 1, 1913.
-
404 Monument Square
Jamestown KY 42629
Phone: 270-343-5700
Publisher:
David Davenport
(publisher@tjrcn.com)
Managing Editor:
Greg Wells
(editor@tjrcn.com)
News & Sports Editor:
Derek Aaron
(sports@tjrcn.com)
Advertising Manager:
Stephanie Smith
(ads@tjrcn.com)
Business Manager:
Kim Haydon
(business@tjrcn.com)
Production Manager:
Renee Daffron
(people@tjrcn.com)
Jamestown Office:
Kim Graham
(rcnoffice@tjrcn.com)
PUBLIC MEETINGS
Members of the public may attend meetings. Boards or agencies may schedule other meetings at special times, but are required to notify the public.
FISCAL COURT: 2nd Monday of month, 6 p.m. in the Courthouse
RUSSELL SPRINGS CITY: 2nd Thursday of month, 6 p.m. in the City Hall Municipal Room
JAMESTOWN CITY: 3rd Thursday of month, 6 p.m. in basement meeting room at City Hall
SCHOOL BOARD: 3rd Monday of month, 6:30 p.m., Board of Education office in Jamestown
LIBRARY BOARD: 2nd Tuesday of month, 5 p.m. at Jamestown Library
AIRPORT BOARD: 1st Tuesday of month, 5 p.m. at Airport
TOURISM COMMISSION: 2nd Wednesday of month, 12:30 p.m. at Tourism Office
CHAMBER OF COMMERCE: 3rd Tuesday of month, noon at The Cove restaurant
LOCAL & AREA
NEWS SITES
The links below open new windows. We are not responsible for the content of the sites.
Laker Country WJRS
(Russell Springs)
lakercountry.com/
WKYM-1017 (Monticello)
wkym.com/
Adair Progress (Columbia)
adairprogress.com/
Casey County News (Liberty)
caseynews.net/
Clinton County News (Albany)
clintonnews.net/
Cumberland County News (Burkesville)
burkesville.com/ccn/
Wayne County Outlook (Monticello)
wcoutlook.com/
Somerset
Commonwealth-Journal
somerset-kentucky.com/
Danville
Advocate-Messenger
amnews.com/
Lexington Herald-Leader
kentucky.com/
Louisville Courier-Journal
courier-journal.com/
WKYT-TV, Lexington
wkyt.com/
WBKO-TV, Bowling Green
wbko.com/
USEFUL SITES
The links below open new windows. We are not responsible for the content of the sites.

RUSSELL CO. OFFICIALS
RUSSELL COUNTY SCHOOLS
RUSSELL CO. LIBRARY

LAKE CUMBERLAND
STATE RESORT PARK
TV LISTINGS:
Choose your service and provider
SOMERSET MOVIE SHOWTIMES

.