House Speaker Greg Stumbo says his chamber’s priorities for the next two-year budget are not that different from the senate’s. Both chambers have passed their own budget bills for each branch of state government. The two sides must now work out a compromise. Stumbo says he doesn’t have many concerns with the Senate’s changes and he […]
After hours of closed-door meetings, the Kentucky Senate approved budgets for the three branches of state government Thursday night. The House previously approved its own versions of the budgets. The Senate kept the House’s legislative plan intact but modified the executive and judicial budgets. The two chambers must now form a conference committee to work […]
A new constitutional amendment that restricts how much debt the Commonwealth can carry took it’s first steps in Frankfort today. The amendment is sponsored by state Sen. Joe Bowen, a Republican from Owensboro. It caps state spending to six percent of annual revenue.Currently, the state has spent 6.3 percent more than it has taken in. The […]
President Barack Obama will hold a press conference today at 11:00. Mr. Obama is expected to talk about the negotiations to raise the debt ceiling. WFPL will carry live coverage of the event.
Responding to criticisms over the recent debt ceiling vote, U.S. Rep. John Yarmuth says Congressional Republicans are playing games with the country’s credit and jeopardizing economic recovery. Last week, the National Republican Congressional Committee launched robo-calls attacking several Democrats, including Yarmuth, for supporting an increase of the federal government’s debt ceiling without attaching spending cuts. […]
Like many newly elected Republicans, Young wants to cut government spending and the deficit. One of the first such issues Young will have a chance to vote on is whether to raise the nation’s debt-ceiling. A higher ceiling would allow the country to carry more debt.