A bill that could give lawmakers more discretion when it comes to lowering Kentucky's income tax is swiftly moving through the capital.

House Bill one was the first bill to be signed into law by Governor Andy Beshear this session.

It reduces the income tax from 4% to three and a half percent beginning in 2026.

The Republican dominated legislature wants to see the tax eventually reduced to zero.

Currently, lawmakers can only cut the tax rate by half a percent each year if certain fiscal triggers are met.

Well, today a committee passed House Bill 775, which would allow them to reduce the income tax by as little as 0.1%.

State Representative Jason Petrie, chair of the House Appropriations and Revenue Committee, discussed the bill this morning.

We stick with the same definition of individual income tax equivalency, but we also account for rather than it's either a half point reduction or nothing.

This allows for a 0.1 reduction of point two, reduction of point three reduction, a point for reduction or a point five reduction 0.7 or point eight depending on how well we do that particular year, Mr. Chairman.

I don't know that we can do that, but I would love to think about it.

But this will allow I think, something similar to this has been in effect in North Carolina and maybe Indiana.

No impact current, no impact in future unless further action is taken by the General Assembly.

House Bill 775 passed out of committee this morning and was taken up on the House floor this afternoon just a few hours later.

The bill includes more than a hundred pages of changes, including a proposed tax on cannabis infused drinks and the encouraging of large scale entertainment events.

Several Democrats said they weren't sure if they could support the bill and criticized the process.

Still, the bill easily passed by a vote of 67 to 18, and it now heads to the Senate for consideration there.