Kentucky General Assembly Begins Tuesday

From Kentucky Public Radio’s Tony McVeigh The 2010 Kentucky General Assembly convenes Tuesday, January 5th, for a 60-day session that ends April 13th. The primary focus of the 2010 session will be the state budget. Lawmakers not only have to craft a new spending plan for the next biennium, but address a $100 million deficit… Continue reading Kentucky General Assembly Begins Tuesday

Kentucky Revenue Forecasters Release New Figures

From Kentucky Public Radio’s Tony McVeigh Kentucky still faces serious budget deficits, but the red ink may not be as bad as previously thought. Six economists who advise Gov. Beshear and legislative leaders are revising upward their October revenue estimates. Consensus Forecasting Group Chairman Larry Lynch says the economy’s picking up, but he’d still like… Continue reading Kentucky Revenue Forecasters Release New Figures

Kentucky House Lawmakers Discuss Budget

From Kentucky Public Radio’s Tony McVeigh Kentucky House Democrats and Republicans are in Frankfort for a budget briefing, as lawmakers continue preparations for the 2010 General Assembly. With the state facing a $161 million shortfall in the current fiscal year, and a $1.2 billion deficit next biennium, lawmakers need to be prepared for tough decisions… Continue reading Kentucky House Lawmakers Discuss Budget

Beshear Says He Hopes To Avoid Layoffs

From Kentucky Public Radio’s Tony McVeigh Kentucky Gov. Steve Beshear says all options are on the table, including layoffs and furloughs, to balance the state budget. Talking to reporters about his first two years in office, Gov. Beshear says the state has made substantial progress despite the tough economy. His administration has already overseen $800… Continue reading Beshear Says He Hopes To Avoid Layoffs

Beshear Preparing For More Budget Cuts

From Kentucky Public Radio’s Tony McVeigh Kentucky Gov. Steve Beshear is making plans for another round of state budget cuts.  Monday was the deadline for state agencies to tell Beshear how they intend to cope with another six-percent reduction in spending.  But first, Beshear wants to hear from the Consensus Forecasting Group, a panel of… Continue reading Beshear Preparing For More Budget Cuts

Forecasters: Kentucky Budget Deficit Growing

From Kentucky Public Radio’s Tony McVeigh Kentucky’s projected budget deficit for the current fiscal year just got bigger. Gov. Steve Beshear has been looking for ways to trim around $80 million from the state budget this fiscal year, but now it looks like he may have to double that. The Consensus Forecasting Group, chaired by… Continue reading Forecasters: Kentucky Budget Deficit Growing

Kentucky Revenues Continue To Slide

From Kentucky Public Radio’s Tony McVeigh If, as many financial experts believe, a national economic recovery is getting underway, it apparently hasn’t reached Kentucky. Revenue collections in the commonwealth continue to spiral downward. Total state revenue collections for September were off almost 10%, falling from $804 million last September to $725 million this year. Tax… Continue reading Kentucky Revenues Continue To Slide

State Revenue Forecasters Predict Further Decline

From Kentucky Public Radio’s Tony McVeigh Economic experts who advise Kentucky lawmakers and the governor are revising downward this fiscal year’s state revenue estimates. The Consensus Forecasting Group now projects state revenue collections this fiscal year will be 82-million dollars less than predicted in May. Group Chairman Larry Lynch says the national economy may be… Continue reading State Revenue Forecasters Predict Further Decline