The Louisville Metro Council has begun hearings on the lean budget proposed last week by Mayor Jerry Abramson.
University of Louisville economist Paul Coomes told the council Tuesday that he believes the country is pulling out of the recession, but it will take some time to recover. He says Metro Government could see some modest revenue growth by this time next year.
“There are furloughs, there’s people working 35 hour weeks instead of 40 and there’s overtime pay,” he says. “That’s what will turn around as the national economy improves. Hours worked will go up and people will get bonuses and pay raises that are all subject to taxation.”
The council’s budget hearings will continue for the next three weeks. The body has until the end of June to pass a budget.