Beshear Warns Of Challenging Budget Cycle Ahead
Frankfort, KY – The upcoming budget cycle is expected to be the "most challenging" yet.
That's the expectation of Gov. Steve Beshear, who has been at the helm of state government through an economic recession that triggered $1 billion in revenue shortfalls over the past four years.
Beshear told reporters on Wednesday that finances will be especially tight now that federal stimulus money has been used up.
He said he will push for tax reforms to raise revenue and for a gambling amendment that could be a source of cash for the state.
But the second-term Democrat said he doesn't expect to apply any potential revenue from those sources to a budget he will propose early in a legislative session that begins next week.