A panel of economists has revised downward its prediction of how much Kentucky will make in tax revenue by the end of the fiscal year in June. Gov. Matt Bevin is expected to make cuts to state spending soon.
Gov. Matt Bevin has made a combination of spending cuts and fund transfers to fill a more than $152 million budget shortfall after the state didn’t bring in as much money as predicted last during the last fiscal year.
State budget director John Chilton says Kentucky is on track to take in $113.2 million less than predicted by the time the fiscal year ends on June 30, meaning Gov. Matt Bevin might have to take emergency actions to balance the state budget.