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 […]
From Kentucky Public Radio’s Tony McVeigh Revised revenue estimates on which Kentucky leaders will base the next state budget will be announced this afternoon. This will be the last meeting of the Consensus Forecasting Group before the 2010 General Assembly convenes next month. The panel of economic experts is already predicting a revenue shortfall of […]
From Kentucky Public Radio’s Tony McVeigh Tax receipts in Kentucky were up last month, but no one in Frankfort is clicking their heels just yet. The state collected $722 million in November, compared to $705 million last year. The 2.4% increase is the first positive growth in state revenue receipts in 11 months. Areas showing […]
State officials say Kentucky’s October’s General Fund receipts dropped four percent from the previous year, raising the likelihood of more budget cuts in the near future. Revenues from corporate and individual income tax collections both fell in October as did receipts from use and sales taxes. There was also a 3.2 percent hike in lottery […]
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 […]
From Kentucky Public Radio’s Tony McVeigh The Kentucky Lottery is on track to return a greater share of its profits to state government. In the late 1980’s, when Kentucky’s lottery bill was drafted, lawmakers wanted the lottery to return 35-percent of its profits to the state. That goal has never been met, but the current […]
Improving early childhood development and education in Kentucky is the focus of ongoing hearings in Frankfort. Kentucky Public Radio’s Tony McVeigh dropped by one of the hearings to see what types of topics are being discussed.