Why has the Chamber taken an interest in this state issue? What does it have to do with the businesses that the Chamber advocates for?
The Chamber is particularly concerned that Kentucky’s pension debt has been cited as a key factor in multiple downgradings of Kentucky’s bond rating in recent years. The lower ratings increase the state’s cost to borrow money and that, in turn, limits public building projects that create jobs and grow our economy. In addition, Kentucky businesses generate approximately 40% of all state tax revenue, and taxes could go up if the finances of our pension systems are not stabilized.