Kentucky Chamber provides breakdown of Beshear’s proposed budget
Every two years, the governor outlines his proposed budget, the first step in the process of crafting the 2-year spending plan for all of state government. Gov. Beshear’s $20.59 Billion budget outlines his spending priorities for the state’s education system and all state government agencies. Much like the last several budgets, desired program funding is higher than anticipated tax revenue.
The governor is to be commended for outlining a commitment to primary and secondary education. The budget includes a number of spending reductions for certain state agencies and higher education, but held harmless most health expenditures and economic development. The governor also outlined a number of capital spending on projects, but questions remain about the debt associated with these projects and the impact on the state’s already lowered bond rating.
The governor made it clear that he would like to find additional revenue to ease the impact of some of the proposed reductions. He reiterated a promise in his State of the Commonwealth address to bring forward a tax reform proposal and also reaffirmed his support for expanded gaming; however, his proposed budget is not predicated on either proposal. Click here for a detailed breakdown on key elements of Beshear’s proposed budget.