From Kentucky Public Radio’s Tony McVeigh
Kentucky Gov. Steve Beshear says he soon will decide how to proceed with spending cuts needed to balance the state budget.
The second year of the current biennium begins Wednesday and in order for the state budget to be balanced by July 2010, spending cuts are coming.
Gov. Beshear says it likely will take a couple of weeks to close-out the current fiscal year.
“So, it will probably be close to the middle of July before we will know the exact picture of where we are and then be able to start talking with our cabinets about what size of reductions they’re gonna be facing,” he says.
Beshear believes the cuts will probably exceed two-point-six percent because lawmakers approved additional tax cuts during the special session that ended last week.
Asked about his political future and whether he plans to seek re-election, Beshear replied, “I’ll be talking about that in due course.”