May I have your attention, please?

May I have your attention, please?

At this time, please welcome back to the stage Kate Eaton, MODERATOR and Public Affairs Director Renee Shaw.

Thank you.

Good evening again, everyone.

If you will, please take your seats.

More now began tonight's program.

We're going to begin the recitation of the Pledge of Allegiance.

So please stand as we welcome Javon Dotson, the 2023 National Civics Bee, Kentucky state champion to lead us in the Pledge of Allegiance.

Good evening.

Please recite the Pledge of.

Allegiance with me.

I pledge allegiance to the flag.

Of the United States of America and to serve our country.

Thank you.

Well done, Javon.

Well done.

Thank you.

Well, welcome to the 29th annual Kentucky Chamber Day.

I hope you enjoyed your meal.

And if we can, please give a round of applause to the culinary staff for the delicious meal that.

They prepared for us tonight.

We are indeed glad to have you.

The business leaders of the commonwealth here tonight to hear from the state's top officials.

Since 1995, the Kentucky Chamber has opened Kentucky's legislative season by hosting the state's largest gathering of business leaders, legislators and local chambers of commerce for an evening of networking and predictions for this year's session.

Chamber Day speakers always prompt a lot of discussion, and with almost 30 days under the balance of this 60 day session, it looks like tonight will not be any different.

If you want to be a part of tonight's conversation on Twitter, you can tweet your comments using hashtag K-Y Biggs or by tagging the Kentucky Chamber at K-Y Chamber.

I'm also pleased to report that Katie is airing this program live on our website tonight.

So those of you who are watching across the Commonwealth online at Katie Dawg, we welcome you.

We will also play a recording, a highlight reel, if you will, of tonight's program on Sunday, February the 11th, this upcoming Sunday at 2 p.m. Eastern, 1 p.m. Central.

So check the kids website at Ket dawg for a list of other scheduled viewings.

Now keep in mind that per chamber rules, all of tonight's speakers will be held to strict time limits.

The governor will have 10 minutes and others will have 8 minutes.

We also have a timer on stage to keep you on track.

Now let's get down to business.

It's my pleasure to introduce our next speaker, the chair of the board of the Kentucky Chamber of Commerce, Candace McGraw.

Yes.

Candace has been CEO of the Cincinnati Northern Kentucky International Airport, CBG, since July of 2011.

She's led the transformation of CBG into a thriving enterprise and economic engine for the Commonwealth of Kentucky, growing its annual economic impact to $9.3 billion in 2022, an increase of nearly 6 billion since she took the helm.

Under her leadership, CBG has flourished with recent and ongoing investments from Amazon, Ayr, DHL, Express, Frontier Breeze Airways, British Airways and more.

Please welcome the 2024 Kentucky Chamber Chair of the board, Candace McGraw.

Well, good evening.

I want to first thank Renee for serving as our emcee tonight.

We're always in good hands with Renee, keeping us on track.

Though I wish you luck, Renee, in holding everyone to that time speaker.

And I know she doesn't want to have to give anyone the hook.

So it's my honor to serve as the chair of the Kentucky Chamber this year and just be with you tonight for the largest gathering of business and political leaders in this state.

There's power in numbers, and I've long believed that we're strongest as a business community when we speak as one together alongside our political leaders.

We are working to make Kentucky the best place to do business and a community in which we can be proud to raise our families.

We may have different ideas, ideas on how to achieve that objective, and you will hear our legislative leadership and the governor articulate those different paths tonight.

But I truly believe this is what gives us common cause of Kentuckians.

I want to congratulate my good friend and colleague in last year's chair, Kevin Smith.

Kevin led the chamber through an extraordinary year during Kevin's term as chair.

The Chamber successfully advocated for important tax reforms and another decrease in personal income tax.

These income tax reductions not only help Kentuckians keep more of their hard earned pay, but they also make Kentucky more competitive for economic growth and new business attraction.

Last year, Kevin and our chamber team worked closely to realize the passage of sports wagering the phase out of the bourbon barrel tax banning of illegal gray machines and blocking harmful employer mandates and proposed business tax increases.

The chamber's advocacy work under Kevin's leadership resulted in more than $1.5 billion savings to business.

Let me repeat that $1.5 billion in savings to Kentucky businesses.

That is our chamber work.

And I'd like to ask you all to help me in thanking Kevin for his outstanding leadership.

Thank you, Kevin.

Tonight, we must give a special thanks to our presenting sponsor, Fidelity Investments.

And thank you, Kevin Carfax, Fidelity.

Mission is to strengthen the financial well-being of their customers and deliver better outcomes for the clients and businesses they serve.

Fidelity employs more than 5400 associates in Kentucky.

Her focus on the long term success of a diverse set of customers.

So thank you.

Fidelity Beam Suntory.

Alongside our friends at Brown-Forman Corporation, are the titanium sponsors of this evening's reception.

And I also want to thank our platinum sponsors, Aetna, Better Health of Kentucky, Alliance Coal, CVG, Deloitte Consulting and Whitaker Bank.

Please join me in showing our appreciation for these major sponsors, as well as the many other sponsors here tonight who are supporting this event.

I want to take a moment to recognize the Chamber's chair elect, Scott Davis.

Scott is chairman and CEO of Field and Main Bank, headquartered in Henderson, Kentucky.

And I know he'll do a great job when he takes the helm in October.

And of course, alongside Scott, I'd like to recognize the chamber's board of directors, as well as our past board chairs.

Would you all please stand and be recognized?

Ladies and gentlemen, these are the Kentucky business leaders who devote time and energy to make sure the chamber represents us so well.

For all of you, I want to thank you for your dedication and service to the Kentucky Chamber.

The Chamber would not be effective if it weren't for our key investors.

You will see the logos of these companies on the screen and they are recognized in your program.

Please join me in showing our appreciation to these investors as well.

I've been privileged to serve on the Chamber's Board policy, council and Foundation board for several years.

I've had a front row seat to see our Kentucky Chamber team at work.

The dedication and hard work of this organization, our staff and those serving on the boards and councils is outstanding.

You should know that your interests are very well represented at the Kentucky Chamber.

Whether you're a family owned business in Bardstown, a startup in Covington, a Fortune 500 company in Louisville, or anywhere in between, Across our great state, the Chamber is a leading voice shaping public policy that contributes to a positive business climate.

More importantly, we're promoting conversations about and actively working on key issues that impact all Kentuckians.

Whether that involves the role of artificial intelligence in our business, or how a community's housing stock is helping or holding back economic growth.

The chamber is working collaboratively to advance conversations that matter in recent years.

The Chamber has formalized many programs across a variety of areas to complement our advocacy efforts.

For example, the Chamber Foundation has created several robust programs centered not only on the important work of tackling Kentucky's workforce crisis, but also to assist employers in finding qualified candidates throughout our through our talent pipeline management program.

Our new military hiring academy and the Fair Chance Academy.

The Chamber also knows the value of civics education.

The future of our democracy depends on young people becoming better informed and more civic minded, which is why we started the Kentucky Civics Bee two years ago.

I'm particularly proud of our partnership with over 100 local chambers across Kentucky who are vital members of the team in advancing business issues and promoting free enterprise in their communities.

This network of business leaders is critical to Kentucky's success as we seek to advance our commonwealth the best ideas will truly that will truly impact come when we are working together, sharing best practices and tailoring solutions to each of our communities.

The businesses our chambers represent are the backbone of Kentucky's economy and you are incredibly proud advocates.

Thank you for being active members of both your local chambers and this chamber.

Because of all of this hard work.

The chamber is recognized for good reason as the leading organization Advancing Business in our state each and every day.

We bring together state leaders, civic organizations, businesses and other groups to create a culture of collaboration.

And I can tell you firsthand, having worked in other states before I came to Kentucky, that this kind of collaboration is unique and should not be taken for granted.

It makes us stronger and more resilient as a business community and more broadly as Team Kentucky.

And Governor, I threw that in to warm up the first reference for you.

But thanks to the hard work of each person in this room, we look at what's ahead.

We've established a strong foundation for success, and Kentucky has a unique opportunity for continued growth.

But we must act now to ensure we capitalize on our incredible momentum and don't fall behind neighboring states.

While our leaders in the General Assembly and Governors Commission have differing views on how to get there, I implore you on behalf of business leaders to look to common sense solutions, to address everyday problems, to work together and find areas where agreement can be reached and our momentum can be accelerated.

We all know the future success of our state is dependent on working collaboratively, not divisive way.

The Chamber has been and will continue to be your partner, and I truly believe our efforts will lead us to a bright, more prosperous future for our families, businesses and state.

Finally, I want to thank every elected official in the room who has joined us this evening.

Your sacrifice is a public service and I'm truly appreciative of the commitment you have made to Kentucky.

Please accept our thanks for your willingness to serve.

Now, before Renee gives me the hook, I want you all know you're going to hear some great speeches tonight from our political leaders as well.

As I know, a few zingers will come through on Twitter from Damon.

But there's a glass of chardonnay calling my name at 9:00, so I hope everyone keeps it on schedule, please.

So thank you all very much.

And in this time, I'll turn it over to the very best state chamber president and CEO in America, Ashley Watts.

Ashley Thank you, Candace.

And save a glass of wine for me because as soon as I'm done, I'm going to want one, I'm sure.

Good evening, everyone.

We are so fortunate to have Candace and her leadership this year at the Chamber.

And of course, thanks to the incredible Renee Shaw for hosting tonight.

I would also like to acknowledge the numerous state local leaders in the crowd tonight.

We have Governor Andy Beshear, Lieutenant Governor Jaclyn Coleman.

We have the constitutional officers, Auditor Alison Ball, Attorney General Russell Coleman, Agriculture Commissioner Jonathan Schell.

And we have former Kentucky governors Ernie Fletcher and Paul Patton.

We are also joined by six Kentucky Supreme Court justices, including Chief Justice Lawrence VanMeter.

And we have several local officials, magistrates, county judge executives and mayors, including Mayor Linda Gordon of here in Lexington and Mayor Craig Greenberg of Louisville.

We are also joined by many university, college and higher education presidents.

And I'm partial.

More than 35 local chambers of commerce are in attendance.

And last but not least, more than 60% of our state legislators are here, including President Robert Savas, Speaker David Osborne, members of leadership and committee chairs.

I would like to ask that all members of the Kentucky General Assembly stand and be recognized.

So every year we hold this event near the start of the legislative session to celebrate the Chamber's long legacy of successful advocacy and to highlight the critical work of the legislature to move our state forward on behalf of the business community.

We truly thank you for your work and dedication to the Commonwealth.

I would also like to thank the truly remarkable Kentucky Chamber staff who have not only pulled off this event with a record crowd of almost 2000, but who provide invaluable service to our members each and every day.

Definitely deserve a round of applause.

One of the most rewarding parts of my job is traveling across Kentucky to listen to and to learn from business leaders and job creators.

Whether I'm talking to a small business owner in Hopkinsville.

A CEO in Lexington.

An entrepreneur in Preston's burg, or a general contractor in Murray.

I have the good fortune to hear about their challenges and concerns, as well as their success stories and their hopes for the future.

But what often strikes me the most from these conversations is a shared sense of optimism and a commitment to the fact there is far more that unites us than divides us.

I'll be the first to know these concepts may be falling out of favor in Washington politics and national media outlets, but this isn't the case for Kentucky job creators.

Business has no time for the politics of pessimism, and business leaders hope high and business leaders know that we are at our best as a country and as a commonwealth.

When we focus on what unites us instead of what we are told divides us.

That is why the Chamber published Kentucky's Winning Strategy A unifying Vision for the Commonwealth Future, focused on priorities shared by all Kentuckians.

I'm talking about priorities like good jobs with strong wages and supporting small business owners in all corners of the state.

Rural, urban and suburban.

A skilled workforce with one of the highest rates of workforce participation in the country.

Healthy communities with access to quality health care services is a growing population with new families, workers and entrepreneurs seeking out our state reliable infrastructure.

Connecting Kentuckians to opportunity and to each other.

A booming economy that is the envy of other states and a world class, high quality education opportunities for all Kentuckians.

The Chamber believes so strongly in these shared priorities that we have positioned our entire 2020 for a legislative agenda around Kentucky's winning strategy.

Our team at the Capitol is working every day on behalf of you, the business community, to ensure the success of our legislative session and bring Kentucky's winning strategy to life.

This means continuing to reform Kentucky's tax code to support economic growth, free enterprise, and improve our business competitiveness, protecting employers from unnecessary regulations, new government mandates and unwarranted litigation, and supporting workforce development by investing in education and training, helping individuals in recovery find employment, removing and barriers to work and economic mobility, and ensuring working parents have access to affordable, high quality childcare.

Over the past few years, Kentucky has made remarkable progress on all of these fronts, and this progress should serve as a source of pride for all of us.

As an example, due to the hard work of the leaders in this room, Kentucky now has the 18th most competitive business tax climate in the nation, up from 37th just a few short years ago.

Another example, last March, Kentucky recorded more than 2 million jobs for the first time in our history.

I could go on and on about the economic investments, our historic budget preserve Trust fund, our state's credit raising rating, the rising rates of post-secondary attainment, record low unemployment and more.

We didn't achieve these milestones through pessimism, and by focusing on what divides us.

We did it through a shared sense of optimism and by embracing what unites us.

The question for each of us to answer is whether we continue down the same path to success, to address our challenges, take advantage of opportunity, and to continue demonstrating that we can accomplish big things.

Or to pick a different road.

Well, we solve Kentucky's workforce crisis by working together or instead focusing on our divisions.

Well, we improve education and health outcomes for children through our shared sense of optimism or the politics of pessimism.

When we bring jobs and opportunities for economic mobility to rural Kentucky through collaboration or through polarization, I know the chamber's answers to these questions.

Like the business leaders across our Commonwealth that we represent, the Kentucky Chamber is an organization that runs on optimism.

And only by working together and embracing our shared priorities can we continue building a stronger, more prosperous commonwealth to all of our state leaders and policy makers in the room tonight.

I want you to know the business community stands ready to continue working alongside you to bring to life the vision for the future of our Commonwealth that we outline in Kentucky's winning strategy a future shaped by good jobs, a growing workforce and access to opportunity for all parts of Kentucky.

We have already accomplished so much together by embracing our shared sense of optimism and uniting around the shared priorities of Kentuckians.

We can continue this momentum and ensure that our beloved Commonwealth is the best state in the nation to live, work or raise a family and of course, do business.

Thank you to all for being with us tonight and cheers to a successful legislative session.

Let's give Ashley another round of applause.

So now we will get down to business.

And before I introduce our first speaker, I do want to acknowledge the lieutenant governor, Jacqueline Coleman.

We are so pleased to see you this evening.

Our first speaker and 63rd governor of the Commonwealth of Kentucky is Andy Beshear.

He grew up in central Kentucky and graduated from Henry Clay High School before attending Vanderbilt University and the University of Virginia School of Law.

His family and community instilled in him the values of faith, family and public service.

He leaned on those values more than ever during the COVID 19 pandemic and during two historic natural disasters.

The Western Kentucky tornados and the Eastern Kentucky floods.

Even as our state has faced some of its toughest challenges, Governor Beshear has prioritized bringing good paying jobs to every corner of the Commonwealth since he took office in December of 2019.

The private sector has announced $28.7 billion in investment, and under his leadership team, Kentucky has attracted nearly 1000 economic development projects, creating more than 1000 or 51,000 full time jobs.

The governor and his wife, First Lady Brittany Beshear, along with their two children, live in Frankfort Interactive and Louisville's bare grass Christian church.

So please help me welcome the governor, Andy Beshear.

Thank you All.

Thank you.

Good evening, everyone.

I know tonight is an exciting night as I enter my second term as your governor.

Everyone has a reason to celebrate.

For some of you, you're excited that I'm going to be your governor for the next four years.

Thank you for that person.

For others, You're excited that I'm now term limited?

No, thank you to that person.

Now, either way, these next four years should be about what we can get done together for the betterment of our people.

Regardless of party or geography or anything else, when you're a business owner, a local leader, or a governor, what you know is people don't wake up every morning thinking about what party they belong to or who's going to be the next president.

They think about their job and whether they make enough money to support their family.

They think about the roads and the bridges they're going to drive on.

And if they're safe, they think about their next doctor's appointment and how far they're going to have to drive to get there.

They think about public safety and public education.

Your government achieves when it's not focused on power or party or team red or Team blue.

But when we push out all the noise and focus on those same things that people worry about when they wake up in the morning and not the things on cable news that are dividing people across the country or across this commonwealth.

We win when we are less focused on the next election and more focused on the next jobs announcement when we thank you.

We win when we spend our time addressing our challenges and not issuing partizan challenges to each other, to other states or even to the federal government.

I think about what so many of us have led this Commonwealth through us a pandemic tornado, flooding.

But even with historic challenges, we you have secured historic accomplishments.

I think about the things I've been able to be a part of just over the last few weeks to celebrate the greatest economic development win streak in our history.

On Monday, we announced a $1.6 million project to support a job ready site at the regional industrial park in Rock Castle County.

On Tuesday, Toyota announced their plans to increase their investment to $1.3 billion in Georgetown, reinforcing the company's commitment to high quality vehicles and long term jobs.

Stability.

That day, we also celebrated new records for economic impact, job and wage growth in our bourbon industry.

On Wednesday, I met with folks on the leadership team at Nucor Steel.

Nucor, the nation's largest steel and steel products producer and North America's largest recycler with facilities in Gallatin, Brandenburg, Louisville and Frankfort.

Nucor employs about 2000 Kentuckians.

Its new Brandenburg Green Steel facility is a $1.7 billion investment that opened just last October.

Today, we announced $500,000 in grants awarded to four companies to support continued tech growth, high wage jobs.

We announced a new build ready site in Jackson County, and Knox County received a grant to help explore options to establish a new industrial park.

I recently went to Bell County and toured the soon to be Flush Steelworks facility.

Over the next few years, that facility is going to employ 100 Kentuckians, paying an average hourly wage of $39.

I was in LaRue County visiting Nationwide Uniform Corporation, which is expanding in Boone County.

We broke ground on Bakery Express, which will create over 200 new jobs.

I was in Bowling Green to celebrate the grand opening of Tyson's Bacon facility and nearly 450 new full time jobs.

And if you look at the last four months, we have made announcements like Benchmark opening a new manufacturing operation in Allen County with a nearly $99 million investment, creating 159 high wage jobs.

Staghorn opening a new independent distillery in Garrard County, a quarter of $1,000,000,000 in investment, 60 full time jobs WPT Nonwovens, where we cut the ribbon on our new $19.5 million manufacturing center in Ohio County, 35 new jobs at their third Ohio County facility.

Crown Verity expanding its operations in Bowling Green $9.7 million 73 new jobs it firm Optima is locating in Wayne County $3 million invested 200 new jobs.

We cut the ribbon on U.P.S.

supply chain solutions at the Velocity Facility in Shepherd's Mill, creating 500 new jobs during this time.

We've also announced millions of dollars to support build ready and job ready sites throughout the state.

And when we add it up over these past four years, we've announced over a thousand private sector new location and expansion projects totaling over $30 billion invested in us.

That is the largest amount under any governor.

But we know the most important part.

We have created 51,800 full time jobs for Kentucky.

And these are good jobs.

The average incentivized hourly wages in 2022 and 2023, top $26 an hour in consecutive years for the first time ever.

You look at the fact we're building the two biggest electric vehicle battery plants on planet Earth and in your president elect's hometown, the cleanest, greenest, recycled paper mill in the country.

We also have secured together the largest general fund in our history, general fund surplus, the largest rainy day fund, the record for the longest period of low unemployment in the state's history.

And we did it all.

While lowering income and property taxes are really hope, everyone is excited about what we've done.

But like Ashley said, what we can still do together.

I think we can all feel the energy across Kentucky.

There's a CEO somewhere out there who's looking at Kentucky right now.

And with this kind of progress, we're showing that we're open for business.

And when you keep racking up win after win after win, you don't let up.

You double down and you keep winning.

That means we have to keep investing in economic growth and in our families.

That's exactly what my forward Together budget proposal does.

And I'm open to working with so many of you and our lawmakers to make sure we make these game changing investments in this budget after our three biggest budget surpluses ever.

The turn these three years of great economic development into decades of prosperity.

I'm talking about investments to provide more clean water, expand high speed Internet and support major transportation projects like for lining the entire mountain parkway and pushing I-69 forward.

We've got to keep investing and fully fund our job ready site development program to keep building more sites for the next industry.

Locating in Kentucky.

Now is also the time to invest in talent attraction and continue to foster relations with our new major trading partners like South Korea.

Simply put, we need to keep breaking record after record to ensure that Kentucky is not just competitive, but that we become the economic powerhouse we can be in this post-COVID economy.

To do that, it means we have to invest in public education.

My budget proposes an 11% raise for every single public school employee.

We entrust them with the future of our commonwealth.

So let's invest in them, providing our teachers an 11% raise would bring us up to 24th and starting teacher pay and 25th in average teacher pay.

The states around us know how important increasing pay is, and they've proven that it's not about politics.

The Republican governor of Tennessee signed a bill last year to provide teachers the largest pay raise in their state's history.

And Indiana is looking to do the same.

This budget is our opportunity, our chance to get things right here in Kentucky.

We also need to address our family's child care needs.

Look, when I was at Nationwide Uniform Corporation about two weeks ago in LaRue County, I learned something.

They paid 50% of day care expenses for their employees.

They know that child care is expensive and they're doing their part to help.

We need to do our part.

In my proposed budget, I recommend fully funding universal pre-K for every four year old in the Commonwealth of Kentucky, and we combine that with more support for our child care providers.

Listen, this plan would provide 34,000 additional Kentucky children with pre-K slots and free up about 4000 federally funded child care slots.

This is the single biggest, most impactful thing we can do to increase our workforce.

I look, we've got some work to do to get these investments in the final budget and I need your help because we need to invest in our future workforce and in our current workforce.

And for me, as a dad and as governor, improving life right here at home is the most important thing we can focus on.

That's too important.

And we can't let the partizanship of the Washington or the Washington, D.C.

Outrage of the Day distract us.

So let's get it done and keep working to move this state forward together.

Remember, life is short, so do good things and be kind to each other.

Thank you very much.

7 seconds over.

Okay.

We'll see how the rest do.

Thank you, Governor.

Our next speaker is House Minority Floor Leader Derrick Graham.

State Representative Derrick Graham has served the people of Franklin County and the 57th House District since 2003.

He currently serves as House Democratic Caucus leader, making him the first ever African American to lead a legislative caucus in.

The Kentucky General Assembly, from May 2013 until the end of 2016.

Representative Graham chaired the Chamber's Education committee.

Prior to assuming his current role, he spent four years as House Democratic Caucus chair.

He's a member of the General Assembly's Bourbon Trail Capital, Central Kentucky and Kentucky.

Black Legislative Caucuses.

Please help me.

Welcome to the stage leader Derrick Graham.

Thank you, Renee.

And good evening, everyone.

And thank you all for giving me this chance to share on the stage.

Once again with Governor Beshear and my fellow House and Senate leaders.

And thank you to the chamber and the officials who have put this together.

And I want to thank the chamber for hosting the dinner for close to almost 30 years.

Give yourself a round of applause, as some of you may recall.

Last year was my first time speaking at this dinner and now this will be my last since I have decided to retire at the end of the year.

I could spend almost every second up here talking about the many memories and the friendships that I established while serving these 22 years in the General Assembly.

Making the that time more special is that I grew up almost right near the Capitol in the shadow, the Capitol, and I never dreamed one day I would be a member of the General Assembly or even as a leader.

And growing up in Frankfort gave me a deeper appreciation of what it means to be a public servant.

My mother was one, and most of my friends had at least one parent who filled that role.

I became one myself as a high school history teacher and as city commissioner in Frankfort, and then to serve as a state legislator.

I consider myself blessed to be among those who chose and continue to choose careers dedicated to making life better for all of us.

Unfortunately, many of these jobs are getting tougher than they should be.

My former profession is a perfect example of what I mean.

One in four teachers decided to leave their classroom last year, and while not all left the profession, but many did.

The pay is too slow low.

The political pressure being heaped on them is too high, and we ask them to fix the world and then refuse to pay for even the basic tools they need to do just that.

Two years ago, we finally had a budget with some real money to spend.

The first time we could say that since around 2006, and yet the General Assembly couldn't find a way to raise school salaries by any meaningful amount.

Most school districts could only afford a small raise for their teachers and just one in Fulton.

The Fulton Independent School District matched the 8% raise state employees got, and they deserved it.

In 2022, this year, we are on track to do the same.

House leaders like to say every budget has a historic funding for food for schools.

But the reality is, is that we are well below where we were in 2008.

When you factor in inflation.

For too long we have had to do more with less.

And now that revenues are back, we are intentionally doing less despite having more.

My colleagues will come up here shortly and talk about the tax cuts that they have made and will almost certainly make in the future.

But they won't talk about the 3.8 billion they borrowed in 2022 or their 2.7 billion being borrowed in the House budget.

They won't talk about the 5 billion that they'll have sitting idle a little more than two years from now, and they probably won't talk about spending almost 2 billion from reserves that they say is not a real expense.

And I understand both in this room are excited about these future tax cuts.

What I am saying is unpopular and I know it, but it must be said.

We are running up enormous debt despite having record reserves, and we are using accounting tricks to meet the already low threshold for tax cuts.

And we are doing all of this while ignoring the very real needs we have in our classroom and in our communities all across the Commonwealth.

Another thing my colleagues won't talk about is the most in terms of retirees and don't and they don't want to benefit these retirees.

And from this these tax cuts because their income, those people who have worked for the cap, the county and the city as well as state government, most basically their income is below 31,000 and they are already exempted.

The same holds true for soldiers on active duty and others who, for whatever reason, pay little if any income tax.

And many in the middle class won't see much of a benefit either.

Those earning $80,000 or less are getting less than $6 a week.

For those who don't follow the state budget closely.

The state income tax was once our single largest source of revenue.

We use that money to teach kids and to keep us safe and secure and have a healthy sit in citizens.

It sure is true.

We added a small amount by by taxing a few dozen small businesses like paying parking spaces and vet bills.

But that is a drop in the bucket.

And if you are a business owner and your largest customer provided 40% of your bottom line, how would it feel if I said to him that he needed to get rid of that customer?

If you want your sales to grow, most of you would think I'm crazy.

And yet that is exactly what we are doing at the state level.

And while we are significantly cutting revenues, we are also pretending we can siphon away tens of the tens, if not hundreds of millions of dollars more for other things.

The House crime bill will almost certainly cause are overcrowded jails and prisons to become even more overcrowded and expensive efforts to have the state pay for private schooling, meanwhile, will be another item using the state checkbook that we cannot afford.

Advocates may say we won't take any money from education, but that's like saying my decision to spend a month in Europe won't impact what I spend on my utilities.

And maybe I'm wrong.

And maybe you can get richer by by taking away 40% of your revenues.

Maybe you can get richer by building bigger jails and prisons, and maybe you can get richer by spending hundreds of millions of tax dollars on private schools.

And maybe you can get richer by not giving our public schools and our state agencies what they need.

But I hope you understand why.

I am doubtful.

In a few minutes you will likely hear that I am nothing but a tax spending Democrat.

But I will never shy away from advocating for public education and our public servants.

You will never hear me advocate for lock them up policies that do little to address the roots of the causes.

I will never argue against cleaner water, better roads and additional opportunities for economic and workforce development.

It is common that events like these to say that we are at a crossroads or that this is the most important session ever.

I won't go quite that far, but we find ourselves heading in a direction that I am worried about and that will cost us dearly and needlessly.

Not too long from now, I won't be there if there when it happens, but I will be keeping a close eye on the matters just as the same for the sake of Kentucky's future.

I hope I am wrong.

But from my perspective, I worry that this outcome has already packed bags and is heading our way.

We have a lot of work to do in the General Assembly this year and there will be a lot of good things to pass during this time and I'm just hoping before it is too late.

We'll realize that doing less when we have more is not a good way to govern when we invest in ourselves.

Great things happen and we should not let this opportunity pass us by.

Let me end by once again thanking the Kentucky Chamber and all of you for being here tonight and for giving me this chance to be part of it.

I really appreciate it.

God bless you and God keep you.

And may God bless not only the people of the Commonwealth, but our commonwealth as a whole.

Thank you again.

Thank you, Representative Graham.

Next, I'd like to invite Senate Minority Floor Leader Gerald Neal to the stage.

Senator Gerald Neal was elected to represent Senate District 33 in Louisville in 1989.

He is the second African American to serve in the Kentucky State Senate and holds the title as dean of the Kentucky Senate, a title given to the longest serving member member.

Senator Neal was elected by his colleagues to serve as leader of the Kentucky Senate Democratic Caucus for the 2023 24 term.

He's received many prestigious awards and is an inductee of the Kentucky Civil Rights Hall of Fame in 2001.

Please help me welcome leader Gerald Mitchell.

I notice you didn't stand up.

That's a good start for me, right?

Ladies and gentlemen of the Kentucky Chamber and all those that are here assembled, I thank you for the invitation chamber to speak before you this evening.

And, Renee, thank you for that very kind introduction.

I got tell you, I really enjoyed the last time I spoke from this podium.

And I want to tell you that, in fact, if I remember correctly, it was the first time that I spoke from this podium.

If you will remember, I was so excited about last year's event that I initially introduced myself as Morgan McGarvie, you know, my predecessor.

I was so focused that it seemed feasible to me at that time that this was my springboard to the future.

I was convinced that serving in this capacity meant today the Kentucky Senate minority floor leader tomorrow serving in the U.S. Congress.

But Morgan, if you're here, I want you to know I have no fear, my friend.

Have no fear at all.

I no longer have these aspirations.

I know it is tough enough in the Kentucky Senate, but those guys can barely hold on to a speaker of the House or.

But seriously, seriously, your mission in supporting a prosperous business climate in the Commonwealth and then promoting business retention and recruitment is essential to our collective future.

Those who strive to making a better life for all of us.

I'm talking about the mom and pop efforts to the giant operations that dot the varied landscape that we call Kentucky all contribute to the economic vibrancy of the Commonwealth, but are open doors of possibilities that give hope and substance to us all.

All of us.

So this evening we find ourselves at the cost of a new heroes.

Before us lies not just the fields of bluegrass and the quiet strength of our distilleries, but the beating heart of our commonwealth.

The potential.

This gathering is emblematic of our shared commitment.

It is a testament to the collective spirit that propels Kentucky forward.

It's a spirit that doesn't just dream of a better tomorrow, but is a spirit that recognizes that we at a point are at a point of great opportunity.

We are at a great point of opportunity.

Our commonwealth, rich in history and vibrant in this tapestry of cultures, stands on the threshold of transformative growth.

This isn't merely independence.

This isn't mere happenstance.

It's the fruit of our collaborative endeavor, a symphony of efforts that harmonizes the aspirations of every Kentuckian, irrespective of their zip code, background or age.

Our journey steeped in unity, and I've heard those words, acknowledges no barriers, recognizes no divide, and is deeply entrenched in the belief that our shared future is infinitely as we march forward together.

Should it be any other way?

Can it be any other way?

Is that not our strength?

Is that not our purpose?

As we proceed in the 2024 regular session, we are presented with a golden opportunity to sculpt a budget that not only propels our state into the future, but also serves as an ideal of hope and a blueprint for prosperity.

This is our chance to invest not just in the infrastructure that connects our towns and cities, but in the very fabric of our society.

Our people were tasked with crafting policies that boost our economic engine and enrich the lives of every citizen.

Yet, as we stand on the brink of unprecedented challenges and opportunities, Kentucky faces a dire teacher shortage a symptom of deeper systemic issues that require our immediate attention and action.

I want to say that again.

This requires our immediate attention, not inaction.

If we are to ensure the prosperity and well-being of our future citizens, it is imperative that we as a state commit to supporting revitalizing our education system with unmatched vigor and resolve.

The task before us is twofold To address the teacher shortage and to retain exceptional educators who inspire and empower our youth.

This endeavor necessitates more than mere acknowledge.

It demands substantial investment and competitive salaries, professional development and the creation of a nurturing work environment.

The invaluable contribution of educators to society cannot be questioned.

However, the mission to fortify our education foundation does not end within the confines of school walls.

It extends into the broader spectrum of societal needs that directly impact the ability of our families to thrive.

Affordable and accessible health care.

Housing and the creation of a robust, a robust middle class where workers are treated with fairness and dignity, capable of providing for their loved ones without undue strain.

Imagine, imagine, if you will, in Kentucky, where access to exemplary education is not a privilege, but a right for every child.

Where our economic strategies are as multifaceted as the communities, they aim to uplift, where health care transcends geographical and economic barriers.

Ensuring wellness for all.

This is the Kentucky.

We must build a state where policies are not just pathways to growth, but pillars of a society that values every individual.

We are diverse in many ways.

Is not a diversity of thought experience or is it not the diversity of thought and experience and aspiration that creates the rich, the very rich resource from which we drive our possibilities?

This includes our past, present and the vision that we have for the future.

It is essential that we learn from the past, even that which is unpleasant.

Apply.

Apply what we learned toward a better and more equitable present to create a more equitable future and just society.

We have a lot to celebrate.

However, we cannot fix that which we refuse to face in the realm of business and commerce.

Diversity, equity and inclusion are not mere trends, but foundational pillars that ensure resilience, innovation and sustainability.

As we celebrate on the fiscal policies and legislative agenda, let us tribute.

Let imbue them with an ethos that champions not only economic growth but societal well-being.

Our mission is clear to foster an environment where businesses thrive.

Education is accessible.

Health care is a universal right, and opportunities are abundant for all.

The journey over the next legislative days calls for collaboration across party lines between urban centers and rural expense experiences.

Among varied industries.

It requires us to listen, really listen to the voices of our citizens, too, and to embrace innovative solutions and above all, to add with courage the courage to embrace bold visions, to prioritize the collective good, and to dream of a future that is inclusive of all Kentuckians together.

Together, these pillars support the development of a strong middle class, the backbone of our economy and democracy, where fairness in wages and working conditions allow for a dignified life.

Each of these elements education, health care, housing and fair labor practices intertwine to construct the foundation upon which a resilient and prosperous society stands.

They are the gears that drive economic growth, socially equity and the well-being of every Kentuckian.

So as we look to the future, let us draw inspiration.

Inspiration from the beauty of our state, the resilience of our communities, the balance potential of our people.

Let our path be guided by optimism, a shared commitment to uplift every Kentuckian and a steadfast belief in our collective ability to overcome any challenge.

Tonight, I extend an invitation to each of you leaders of industry, champions of commerce and stewards of community to join hands in this noble endeavor.

Together.

Together.

Let us forge a Kentucky that is equitable, inclusive and prosperous, and Kentucky that stands as a testament to what is possible when we unite in purpose and spirit and conclusion.

I'll leave you with the wise words of the world's greatest and Kentucky's own Muhammad Ali, who once said, We have more in common than we have differences.

If people can learn to hate, they can be taught to love.

For love comes more naturally to the human heart than it's opposite.

As we continue this journey, let our hearts be full of hope with our eyes fixed on the horizon together, not as Democrats or Republicans or liberals and conservatives, but as Kentuckians.

We can build a state that not only leads an economic growth, but one that is an example where diversity is embraced and a place that we can be proud to call home.

Thank you again for having me.

God bless you and God bless the Commonwealth of Kentucky.

Notice later, now you got the.

Standing ovation you are seeking.

You can remain standing if you'd like, so I can welcome the Speaker of the House, David Osborne.

Who served in the Kentucky.

House of Representatives since 2005 and as Speaker since 2019.

He represents the 59th House District in Oldham County.

He is a recipient of multiple awards, including the Children's Alliance champion for Children Award, the Prevent Child Abuse, Kentucky's Champions for Children, Mary Ellen Award, the Outstanding Service Award from the Kentucky Association of Chiefs of Police and multiple MVP awards from the Kentucky Chamber.

Please welcome again House Speaker David Osborne.

Well, thank you, Renee.

Thank you all.

It's great to be here with you this evening.

You know, when when we initially got the invitation for this year's event, it was proposed that if we went under our time limit, that we would get to designate a charity to receive money.

I was all in.

I was ready to come up here, say hello, goodbye, and get off the stage.

Somebody objected to that.

And after listening to Gerald and Derrick, we now know who.

And of course, in a move, nobody saw it coming.

The governor shows up to speak and hits the door, and it's time to listen.

I do want to say a few words about my colleague, Derrick Graham.

First of all, Derrick, I'm not going to.

I'm not going to call you a tax and spend Democrat.

Let's face it, we don't give you the ticket.

The change depends on the checkbook.

But, Derek, thank you.

For 22 years of service to the Commonwealth.

While we don't always agree on a lot of things.

I've always known you to be a man of integrity and compassion and appreciate your advocacy for your constituents in this commonwealth.

So I will miss you.

As I said about Joni two years ago, when when she exited the body, the chamber will miss you.

Clearly not this chamber.

We've all seen your scorecard for the Chamber scorecard.

So.

But.

But.

But I will miss Derek.

And I wish you every bit of happiness in your your retirement.

I'm honored to be here tonight to deliver a message on behalf of the House Republican Caucus.

We are in day 27.

For those of you counting, that's 31 shopping days until veto period.

I can't wait to see what the governor gets us this year to celebrate with.

As you all know, we sent the Senate a budget last week that yet again provides a responsible approach to the funding for the state for our state agencies and programs.

Jason Patrick, Adam Nolan, Josh Bray, as well as former vice chair Brandon Reed, have worked with countless stakeholders to craft a spending plan that provides for our needs and positions us for a strong future.

Don't worry, President Stivers.

I am fully confident that your brilliant chamber will find a way to make this spectacular document just a little bit better.

In the meantime, House Bill six continues our commitment to priority areas like infrastructure and public safety, while providing significant support for health and human services.

And this budget again provides record funding for K through 12 education.

Let me be clear.

No matter how many times people say it to the contrary, record funding adjusted for inflation, record funding more than $1.3 billion this year overload to what we funded last time.

And Governor, you never hold Zoom calls and press conferences you want.

It does not make what you're saying the truth.

The fact is we continue to provide significant resources for school employee raises and we do so in a manner that allows local districts to set their own priorities.

House Bill six also includes $5 Billion to fund pensions far more than were legally required or is actuarially required, but nonetheless necessary because of the failures of previous governors and legislatures.

We also sent to the Senate House Bill one this legislation, a tab that taps existing state resources to make $1.8 billion in one time investments in infrastructure, economic development and additional pension contributions.

Let me stress that we will only make these one time investments with one time money.

We've made savings a priority and we now have an opportunity to make significant one time investments that will lead to generational change.

We focused on our needs and we know that there are plenty of ones.

We have a four and a half billion dollar reserve, and I feel like over the last 60 days I have met with four and a half billion people that have four and a half billion different ways that we can spend that four and a half billion dollars power reserve.

We could spend more, obviously, but we will never spend as much as some people want us to spend.

The critical part is these people that are critical of us not spending more and do not understand that we cannot spend our way out of the challenges that our face, our state faces.

In reality, it is our job to keep government focused on its mission and let those of you here in this audience who create jobs and grow and grow this economy do what you all do best while we stay out of your way.

Since being given the majority in 2016, we have consistently adopted policies aimed at growing our economy and creating opportunities across the Commonwealth.

We've modernized our state tax code.

We've retooled unemployment insurance.

We've eliminated a right to work.

We've restructure workers comp.

We reform regulations.

We've reined in government overreach.

And we've invested billions of dollars in economic development tools across this Commonwealth.

And we've done this while passing a plan to eliminate our individual income tax this year.

Kentuckians will keep $1.2 billion more of their hard earned money in their pockets as a result of House Bill eight.

That is the kind of public policy that is transformational for this state.

This General Assembly has a is also a match to amass the largest budget reserve in the history of our state.

Position us to be better prepared for both future challenges and future opportunities.

We've delivered broadband and replaced miles of aging water infrastructure across the state.

This larger based legislature has invested in our universities, community colleges, technical schools and vocational education.

A university president was in my office just yesterday and made the observation that this is the best budget proposal is the best for higher higher education in a generation.

We've also addressed the biggest financial that our state has seen since on dictate absconded with the state Treasury, and that is our pensions over $20 billion and major reforms in the last seven years.

Of course, we've heard or you all have heard a great deal about these things from the governor and he spent the entire campaign last year publicly endorsing every bill that he has either vetoed suits over or patently disregarded it.

It's good to know he's finally cut it.

All this time.

I thought it was the Senate that was slow to catch on to things.

Just kidding, Robert.

And in his his team down in the Senate are great partners in helping us make Kentucky a better place.

You know, everyone in this room knows that we have more work to do.

And looking ahead, we also know that crime impacts economic development.

That's why we approved House Bill five legislation led by Jared Bowman that will make law abiding Kentuckians safer, remain focused on increasing access to health care.

This includes CAM measures legislation aimed at improving maternal health.

And, of course, we must continue identifying barriers to the workforce under the leadership of Samarra heaven.

We created the Employer Child Care Assistance Partnership.

In this session, we move legislation that would allow employers to voluntarily offer paid family leave insurance.

It also means taking courageous steps to tackle public assistance reform.

Under the leadership of Speaker Pro Jim David made and the assistance of Representative Jonathan Dickson.

We've made great strides in addressing the benefits.

Cliff, and obviously we will remain focused on strengthening education in Kentucky.

Tomorrow's workforce is sitting in today's classrooms and we are obligated do more to make sure that they are prepared.

Over the past seven years, we have provided historic funding and address literacy, student discipline and the teacher shortage.

And we all we know there are more.

There are many success stories of our existing systems.

You cannot ignore the that more than half of our students do not read at grade level.

You cannot ignore that.

Less than half are proficient in math.

This we will consider House bill to sponsor.

But Suzanne Malveaux.

Legislation that allows you and other Kentuckians to clarify that we have the authority to take the necessary steps to ensure that every child has an opportunity to reach their potential, regardless of where they live or how much money their parents have.

130 year old constitution was created at a time when public education meant a one room schoolhouse.

No aides and a schedule that prioritized farm work.

A vote for this constitutional amendment is not a vote against public education.

It is a vote for the very kids that they serve.

Do better, Governor.

Stop lying to the people of Kentucky.

You know that we have provided more resources than ever.

Stop being a mouthpiece for the KIA.

Stand up for Kentucky kids.

In closing.

Thank you all.

Thank you for your ongoing commitment to prosperity in our state.

Your dedication, innovation and entrepreneurial spirit are a big part of what makes Kentucky a better place together.

Let's continue to build on the accomplishments that we've made and unlock the full potential of our great commonwealth.

Thank you all.

Last but not least, thank you, Mr. Speaker.

We invite President of the Senate Robert Stivers, to the stage.

Senate President Robert Stivers was elected to the Senate in 1997 and represents the 25th District.

He served as Senate majority floor leader from 2008 until he was elected Senate president in 2012.

In 2015, President Stivers was honored by Governing magazine as a public Official of the Year.

In 2016, he was chair of the Southern Legislative Conference and in 2018, chair of the Council of State Governments.

He currently serves on the Board of the Select Presidents Forum.

Please join me in welcoming Sena goodness, my goodness.

She always tells me that I'm her most favorite Senate president.

It also happens to be I'm her worst Senate president because I'm the only Senate president.

I want to thank the chamber for coming here tonight and inviting us all the individuals who have come.

It's always great to be with 2000 of your newfound best friends.

Everybody's wanting something like David Osborne said and they all have theories to deal with it.

But I want to have a little bit of fun today before I get into what might happen.

Some of my colleagues from throughout the state I serve on a lot of national boards, said they were aware that we had had our elections and somebody called me and said, Hey, look, I understand the secretary of state got reelected again.

I said, Your second term.

I said, Well, we saw him on a magazine.

I wish you were here tonight.

We saw him on a magazine cover in our state.

And you're probably thinking that this file folder is full of notes.

No, it's not.

I've never used notes in the ten times I've done this.

But I told him, send me the magazine cover.

Got it in the mail the other day.

And let me show you what it was.

I looked at and I said, That is similar to I hear David Thoreau.

Are there clapping?

You're not out of the woods yet.

He also called me and said, I've got another photo with all the governor in a Fish and Wildlife magazine.

I said, In your state?

I said, Yeah, I got it.

I looked at it when they sent it to me in the mail again, and I thought.

Yeah, this is the governor.

He sent me a photo of the lame duck.

Now I want to say something about my colleagues, and this is my 28th year, and we have done a lot of good things.

And I know that my Senate leadership is here several them are.

I believe Daymond was here, Mike Wilson is here.

A couple of others had to go home and deal with family matters.

Chris McDaniel, our chairman of Appropriations and Revenue.

They are a really good group to work with and they have done great things.

And I want to say this When Damon said that he was retiring, I want to be honest, I was thinking about it, too.

But as I've told you before, you need to look at me now and look at me for what I say before Damon.

My hair's gray, It's thinning.

And I thought after Damon announced that maybe I'll stick around because maybe my hair will go back to being this thick and this dark once he's left.

But let me say, this can be serious.

We have done some extraordinary things.

And when you think about the chamber agenda starting in 2016, when David Osborne and his group came into power and authority in the House, go through all the things that we did, we produced bills that put us as a right to work state.

We repealed prevailing wage.

We did pension reforms.

We did tax reforms, worker comp reforms.

We created business friendly policies things that spurred the bourbon industry in the horse industry to the heights they now see that are unprecedented in this state.

We did that for all businesses.

So if you want to see the true generic trajectory of when we started seeing payment on our debt and our pensions, it started in 2017.

It continues today.

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 other things that we have done are high impact investments, The investments that we will take up and do in this budget, I again think will be high impact investments, things that lead us into the future, things that will make us prosperous, items that will look at both rural and urban areas.

And maybe maybe we will do something in some of the poorest areas, the state and we've heard about four laning, the Mountain Parkway.

Maybe it's time the four lane, the Hal Rogers Parkway, through some of the poorest counties in the state of Kentucky and the com and the United States going from London to hazard leading into hazard to Pikeville to open up that area of the state to give us the competitive advantages there.

There are other things that we have looked at.

And I want to say this about my colleagues in the House to Speaker Osborne and all his group.

They have sent us a very good budget and I'm actually going to try to finish before the 8 minutes since nobody else did.

Knowing that I'm the only thing between the door or the bar and you all, but we will see an impact, high impact decisions, high impact investments to change this state.

And today I filed Senate Bill one.

Senate Bill one is a bill that will encourage collaboration and cooperation between our universities.

We love to see them to play on the basketball courts and the football fields.

But why should we sit here between the University of Louisville, northern Kentucky and Murray and argue over who should deal with a I and cyber security?

This bill will create five tranches of money that at least two universities will have to apply for that money.

Looking at research and development much, much as we did some 20 years ago with the spine and brain injury trust fund that looked at tissue regeneration and other injuries to see how we could invest in health care and education.

So why not do this for aviation and aerospace?

But see Eastern and Morehead come together?

Let's see.

Northern Kentucky and Murray 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 agtech 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.

We have the time.

We have the opportune energy and we have the resources.

So I ask you and encourage you help us in these areas, come up and continue to keep us on the trajectory that we created starting in 2017 and have continued through 2024.

Thank you all for the opportunity.

God bless.

God bless Kentucky.

And be safe going home.

Thank you, President Stivers.

Now, I'm the only thing between you and the bar in the car.

So thank you for being here tonight.

We appreciate each and every one of you.

Reminder that the annual meeting, the dinner at the Omni Hotel, is in Louisville on September 18th, And we'd like to thank the speakers Also, Fidelity Beam, Suntory, Brown-Forman and all of the sponsors for making this event possible.

I'm Renee Shaw.

Have a good, safe travel home.

God bless.