budget

LRC Public Information

With time running out on this year’s legislative session, state budget leaders say they didn’t reach any compromises on a two-year spending plan during a day of closed-door meetings on Wednesday.

LRC Public Information

Senate consideration of the state budget Tuesday concluded with the measure passing generally along party lines with Democrats voting against the bill and Republicans for the spending plan. The floor debate which preceded the vote featured an often-heard refrain in Frankfort. 

Alexey Stiop/123rf Stock Photo

Lawmakers return to Frankfort this week for the 2018 General Assembly and are slated to make changes to the state’s pension systems, craft a new two-year budget and consider a variety of other legislation. 

Were the GOP tax bill to pass as is, taxpayers and their spouses would get a $300 credit per year, as would families for nonchild dependents — for five years.

And it would allow businesses to immediately deduct the costs of business investments from their taxable income, a practice called "full expensing" — likewise, for five years.

And then it would end the estate tax, starting in six years.

Sergey Kuzmin, 123rf stock photo

Kentucky Gov. Matt Bevin's administration has launched a pension reform website ahead of a likely special session of the state legislature to address the state's struggling retirement system. 

Public Domain, Wikimedia Commons

Illinois Gov. Bruce Rauner lost an unprecedented battle with the "Springfield insiders" he once campaigned to dethrone when lawmakers approved a budget and $5 billion tax hike over his objections, and without the pro-business reforms the Republican promised. 

Biomedical research and public health are among the big losers in the Trump administration's proposed budget.

The proposal promises:

  • A "major reorganization" in the National Institutes of Health, which supports most of the nation's research on diseases and treatments. That includes a cut of $5.8 billion, about 20 percent of NIH's $30 billion budget.

Matt Markgraf, WKMS

Murray State University President Bob Davies kicked off the Friday Board of Regents meeting with the quote, "The hope of democracy depends on the diffusion of knowledge," which is carved above the grand doors of Pogue Library, where the meetings are held. 

Sergey Kuzmin/123rf Stock Photo

Update/Clarification: Murray State officials said Monday the university is predicting a decline in net tuition and fees this fiscal year, which the university plans to mitigate in the next fiscal year budget. The story has been updated to reflect this detail.

Murray State University is predicting a $4.5 million decline in net tuition and fees in fiscal year 2017, which officials hope to mitigate in the next budget. 

LRC Public Information

The Democratic-controlled Kentucky House is preparing to vote on its version of the state budget.

Pages