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Wed March 11, 2009
By Tony McVeigh
Frankfort, KY – Kentucky House Speaker Greg Stumbo is predicting lawmakers may have to return to Frankfort in June for a special session. He says, obviously, the state, nation and world are in a serious recession.
"Perhaps a depression. And it's going to take a long time for us to get out of that, I believe, as a nation and obviously a state. And I don't think our revenue situation is going to get any better necessarily, on its own, without further enhancements until probably in the next biennium, maybe in the middle of the next biennium."
Stumbo made his comments after reviewing revenue figures for February, which show zero state revenue growth for the first eight months of the current fiscal year. Road fund receipts were off almost 12-percent. Governor Beshear is also concerned about the numbers, but says he wants more information before predicting the need for a special session.