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.
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.
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.