(Louisville, KY) - Metro Council's Budget Committee is discussing the pension crisis and potential tax hike.
Discussions got underway Thursday, a day after Mayor Greg Fischer proposed raising taxes on many insurance premiums.
During the meeting, Budget Committee Chair Bill Hollander said Metro Council has two choices -- severely cut services like public safety, or pass the tax increases.
Mayor Fischer says the city is facing a $65 million budget gap over the next four years due to increasing pension obligations.
Louisville Metro Tax Increase Would Cost Jeffersontown Too
(Jeffersontown, KY) - A tax increase by Metro Louisville will also cost Jeffersontown.
Tax rates in Jeffersontown will automatically rise if Louisville metro's rates go up. It's a move designed to keep the additional money in J-town, and not in the Louisville Metro government's budget.
Jeffersontown Mayor Bill Dieruf tells WLKY that they too knew their pension obligation was going to increase, but unlike Louisville they started budgeting for it years ago.
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