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In a move aimed at bolstering the state's coffers, Kentucky legislators have introduced a comprehensive tax reform package that could bring in much-needed revenue for the cash-strapped state. The proposed measures include changes to income, sales, and property taxes, as well as new revenue streams to diversify the state's income sources.One of the key components of the tax reform package is a proposal to increase income taxes on the top earners in the state. Under the plan, individuals making over $250,000 a year would see a slight increase in their income tax rate, while those earning over $500,000 would face a more significant hike. Proponents of the measure argue that the wealthy can afford to contribute more to the state's finances, while opponents worry that it could drive high-income earners out of the state.In addition to changes in income taxes, the proposed tax reform package includes a sales tax overhaul. Legislators are considering expanding the sales tax base to include services such as legal and accounting services, as well as digital goods and services. This broadening of the sales tax base is expected to generate additional revenue for the state without placing an undue burden on low-income individuals.Furthermore, the tax reform package includes modifications to property taxes to ensure that homeowners are not unfairly burdened by rising property values. Legislators are looking into implementing a homestead exemption for elderly and disabled homeowners, as well as capping property tax increases for primary residences.To offset any potential revenue losses from the proposed tax cuts, Kentucky legislators are also exploring new revenue streams. One such measure being considered is the legalization of recreational marijuana, with the state potentially taxing and regulating the sale of cannabis to generate additional income.Overall, the tax reform package aims to create a more equitable and stable tax system in Kentucky while boosting state revenue. The proposed measures are expected to face fierce debates in the legislature, with both supporters and opponents voicing their opinions on the potential impact of the reforms. Stay tuned for updates on the progress of the tax reform package as it makes its way through the legislative process.