Economy
Congress is looking at expanding the child tax credit again. Who would benefit?
WASHINGTON — The bipartisan tax package passed by the U.S. House last month is not a done deal, but the proposal’s supporters say it could restore some poverty-reducing benefits that reached millions under the pandemic-era child tax credit expansion. A majority of low-income families who do not currently qualify for the full credit would see […]
Stivers wants to further explore a four-year university in Hazard, endow collaborative research
Senate President Robert Stivers wants another study on how to expand higher education opportunities in Southeastern Kentucky.? This time, the Manchester Republican is sponsoring Senate Joint Resolution 132 calling on the Council on Postsecondary Education to study turning the Hazard Community and Technical College into a four-year residential university.? Study: Building a new public university […]
Republican-backed change to teacher pay for sick days forwarded by committee
FRANKFORT — Despite concerns voiced by educators, a Senate committee forwarded a bill Wednesday that would change how teachers are paid for accumulated sick leave when they retire.? In an 8-3 vote, the Senate State and Local Government Committee gave a favorable recommendation to Senate Bill 4. Sponsored by Sen. Jimmy Higdon, R-Lebanon, the bill […]
Toyota boosts investment in Georgetown EV plant to $1.3 billion
Toyota announced an additional expansion to its manufacturing plant in Georgetown, bringing planned new investment in the Kentucky facility to $1.3 billion, as the Japanese automaker steps up production of electric SUVs for U.S. customers. The automaker announced last year it was putting $591 million into the Scott County plant’s conversion and retaining 9,000 employees […]
Child care costs far outpace wages, but dependent care tax credit stuck at 2001 rate
The U.S. House of Representatives voted overwhelmingly Wednesday evening to assist low-income families through an expansion of the child tax credit and the bill now awaits approval in the Senate. But some organizations are also highlighting a separate tax credit for child and dependent care, which they say is not providing adequate assistance to families […]
House passes two-year Kentucky budget, $1.7 billion in one-time spending
FRANKFORT — After hours of questioning and much criticism from Democrats, the GOP-dominated Kentucky House of Representatives on Thursday approved a $129.6 billion two-year state spending plan. The House also approved more than $1.7 billion in one-time spending from the state’s record-high “rainy day” fund which will pay down pension liabilities and fund infrastructure, in […]
Despite increase, House budget won’t save Kentucky child care from ‘cliff,’ advocates say
FRANKFORT — Faith Lutheran Learning Center, a child care provider in Lexington, is already operating on a budget deficit.? And while the GOP budget that came out of the House Thursday does some good for child care, center director Charla Heersche said it’s not enough to keep her out of the red. COVID-era federal dollars […]
Fed keeps interest rates same, as expected, with changes likely months away
The Fed held key interest rates steady again Wednesday, as expected, and signaled that a decision that could affect everything from credit card rates to the housing market to new business creation could still be months away. It was the fourth consecutive time the central bank has left the rate unchanged since its September 2023 […]
Overdraft fees, late fees could be slashed as White House continues attack on junk fees
The cost of overdrawing your bank account could ease considerably under a rule proposed recently by the Consumer Financial Protection Bureau. The proposed regulation is in line with a larger effort that the Biden administration has championed the past few years to crack down on “junk fees,” which are tacked onto everything from ticket prices […]
A bill targeting low-income housing vouchers passes Kentucky Senate
A bill that would prevent Kentucky cities from requiring landlords to accept low-income housing vouchers, something housing advocates say doesn’t happen, passed the state Senate Wednesday by a near party line vote.? The debate on Senate Bill 25 echoed much of what was heard in the House the day before as a similar bill won […]
Citing ‘denials, delays,’ Baptist Health ends contracts with two more Medicare Advantage carriers
A stalemate between one of Kentucky’s largest health care providers and three major health insurers is affecting thousands of Kentucky retirees enrolled in Medicare Advantage plans. Baptist Health last fall ended its contract agreement with Humana for physician services covered by Medicare Advantage, the Kentucky Lantern reported in October. That means doctors’ visits are considered […]
‘Excessive and disturbing’: Regulator slashes Kentucky Power proposed rate hike by two-thirds
Kentucky’s utility regulator has allowed Kentucky Power to raise its electricity rates, but by much less than what the utility had originally asked for.? The Kentucky Public Service Commission in a Friday afternoon order allowed Kentucky Power, which serves about 163,000 customers in 20 Eastern Kentucky counties, to increase monthly bills? for the average residential […]