john chilton

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Kentucky's budget director says a recently approved tax hike will lead to a $50 million shortfall over the next two years.

J. TYLER FRANKLIN VIA WFPL.ORG

  Gov. Matt Bevin has ordered budget cuts of 1.3% this fiscal year to meet a shortfall.

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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.

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  Kentucky’s state budget director said Gov. Matt Bevin will soon enact mid-year budget cuts to help avoid a projected revenue shortfall at the end of the fiscal year.

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An independent consulting group says Kentucky lawmakers should take away some cost-of-living raises awarded to state retirees over the past 20 years as part of a strategy to keep the retirement systems solvent.

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 Kentucky taxpayers could face a budget shortfall of more than $200 million. State economists issued their first planning estimates for the current fiscal year on Friday.

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A revenue shortfall during Kentucky’s recently completed fiscal year means the state will have to make more money over the next year in order to meet expectations, state budget officials say.

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Moody’s has downgraded Kentucky’s credit rating because of the low funding level of the state’s pension systems and lackluster revenue gleaned from taxes.

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Kentucky's state agencies will cut 1% from their budgets to help avoid a $113 million shortfall.

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A financial consultation company Monday presented a report to the Public Pension Oversight Board describing how Kentucky’s pension systems became the worst funded systems in the United States.

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