The Republican led Kentucky General Assembly has a goal to eventually reduce Kentucky's income tax to zero.

Now, the Senate president says another tax needs to go.

We have details on that as we begin tonight's legislative update states.

Robert Stivers was one of several legislative leaders to speak at last night's annual Kentucky Chamber Day dinner in Lexington.

He touted some of the business friendly policies his party has passed in recent years and said it's time to take it a step further.

When you look at our ratings, bond ratings, our business ratings, our tax ratings, it started when we started reducing the income taxes, the ad valorem taxes, the local taxes.

And that's something we need to do here.

And again, this session we need to give the General Assembly the opportunity to get rid of occupational taxes, which are nothing more than a personal income tax.

And in many places, a higher effective tax rate than what the state tax rate is right now.

So hopefully we'll pass the constitutional amendment, which will give us that ability to go to a consumption tax versus a production tax and even become more competitive on the national scene.

Be more like Tennessee, Texas, Florida, North Carolina.

The Senate president also discussed Senate Bill one, which he filed yesterday.

It would create five endowed research funds that he says would encourage collaboration between Kentucky's universities.

When it comes to research and development, let's see Eastern and Morehead come together.

Let's see.

Northern Kentucky and Missouri work together.

Let's see U of L and Western to come together to have cutting edge research and create a dynamic dynamic in this state, as there is in Boston, where there's 30,000 unfilled jobs in the biomedical era area.

Go to the triangle in North Carolina, which there is less than 1% unemployment.

Or go to Indianapolis and look at the landscape being dominated by Eli Lilly and hiring chemist every day.

Or Des Moines where they're doing active research.

Let's don't be competitors.

Let's be collaborators.

Let's look at and see how we can develop cutting edge technology and be competitive in an era and a world that is now moving in that direction.

You can see other remarks from other legislative leaders and Governor Andy Beshear this weekend as we present highlights of this year's Chamber Day dinner this Sunday at 2 p.m. Eastern Time, 1 p.m. Central right here on Katy.