From Kentucky Public Radio’s Tony McVeigh
Kentucky House leaders say they’re continuing to make good progress on a new state spending plan.
Speaker Greg Stumbo says possible revisions to the tax code could help close a 200-million dollar budget shortfall in the second year of the biennium.
“We are looking at some of the exemptions,” sasy Stumbo, “and we’re considering, perhaps, foregoing them during this biennium only, which wouldn’t necessarily be a repeal. It would simply, because of the financial situation, we would not allow those exemptions to be recognized.”
Stumbo hopes to soon have the budget in bill form. A House floor vote on the spending plan is not expected until the second week of March.
Only 25 days remain in the 60-day session, which began on January 5th.