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Thu April 30, 2009
Beshear Warns of Budget Shortfall
By Tony McVeigh
Frankfort, KY – More Pain
Kentucky Governor Steve Beshear is warning another huge budget shortfall appears to be looming on the horizon for the commonwealth. We get the latest from Kentucky Public Radio's Tony McVeigh.
Governor Beshear says internal revenue projections for fiscal 2010, which begins July 1st, indicate the state could be facing a shortfall of between 818-million dollars and one billion dollars.
"This situation is going to require some thoughtful and decisive action."
Will that include a special legislative session?
"There will likely be a special session."
But first, Beshear wants the panel of economic experts known as the Consensus Forecasting Group to meet and make their own revenue projections. Beshear says time is of the essence and the sooner the shortfall is addressed, the better. Earlier in the day, Beshear met privately with House and Senate leaders to begin laying the groundwork for finding solutions to the state's continuing budget problems.