Kentucky budget

Politics
6:56 am
Tue March 25, 2014

Kentucky Senate Passes Budget Plan That Differs From House Version

Credit File photo

The Kentucky Senate passed its version of a two-year $20-billion budget. The lengthy document will end up in a House-Senate Conference Committee where a key House leader expects successful passage this session.

The Democratic-led House and the Republican-led Senate have budgets that differ in a number of areas. The senate plan restores funding for higher education, but cuts out most projects, including those on university campuses. 

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Politics
8:08 pm
Tue March 11, 2014

Kentucky House Committee Approves Budget Plan, 'Virtually the Same' as Gov. Steve Beshear's Proposal

Credit Wikipedia Commons

Kentucky lawmakers have a month remaining in the 2014 legislative session, and in that time they must pass a new state budget.

The House Appropriations and Revenue Committee has approved a series of bills, including a modified version of the governor's proposed $20.3 billion, two-year budget.

Committee Chair Rick Rand says his chamber’s version is “virtually the same” as Gov. Steve Beshear's draft.

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Politics
4:00 pm
Wed December 25, 2013

House Speaker Greg Stumbo: Kentucky Facing Gap in Funds and What Needs Funding

Greg Stumbo
Credit Rae Hodge/Kentucky Public Radio

Kentucky’s budget priorities may require some $800 million in revenue the state doesn’t have.

The gap between what the state needs to spend to maintain the status quo and how much it’s bringing in will be a point of contention for lawmakers and state agencies.

House Speaker Greg Stumbo told a group of business leaders this month that the spending deficit could exceed $800 million.

And he says that it’s unlikely the state will have that money until Kentucky fully recovers from the 2008 recession. But, it’s coming.

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Politics
10:00 am
Fri December 20, 2013

Kentucky's General Fund Expected to Grow 2.5 Percent Over Next 2 Fiscal Years

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A panel of nonpartisan economists reports that Kentucky’s General Fund is expected to grow by just over 2.5 percent over the next two fiscal years.

That'll bring in about half a billion dollars. But in next year's budget, half of that will likely go toward pension payments, inflation on medical care costs and paying down nearly $160 million of a structural budget deficit.

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