4:25 am
Thu October 30, 2008

Ominous Future

Frankfort, KY – Kentucky Governor Steve Beshear is warning the state could be facing an almost 300-million dollar shortfall this fiscal year, but he has a three-point plan to address it. Kentucky Public Radio's Tony McVeigh has details.

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First, Governor Beshear wants a new revenue projection from the Consensus Forecasting Group. Second, the administration will formulate a plan to address the shortfall and third he will take the plan to the people. He says a special session may be necessary during the January recess of the 2009 General Assembly.
"Really, with December having Christmas and the holidays in it, it almost dictates that we end up doing a special session, if we have one, in January."

Beshear believes "the future is ominous" and all options are on the table, including spending cuts or revenue enhancements, such as a cigarette tax hike...but he promises any possible solutions "won't be rushed or rash."