Mary Lassiter

Gov. Steve Beshear issued a pair of executive orders this week reducing state spending levels to plug a $90.9-million hole in Kentucky's budget.

Kentucky lawmakers seemed eager to dig into another tax reform bill this year, but the chair of the latest tax reform commission says reform isn't likely coming soon.

Lt. Gov. Jerry Abramson—who chaired the commission—and Mary Lassiter, the secretary of the cabinet, addressed lawmakers on the budget committees about the recommendations of the Blue Ribbon Tax Commission.

Kentucky Reports Increased Tax Revenue

Oct 10, 2012

Kentucky’s General Fund receipts increased by more than 5 percent in September, thanks in part to a big increase in corporate income tax revenue. Those receipts increased by more than 26 percent. Lottery and individual income tax receipts also rose by more than 8 percent. State Budget Director Mary Lassiter says those increases helped offset losses in property, cigarette, and coal severance tax revenues. She says the coal revenue fell about 19 percent due to a downturn in the state’s mining industry.

"Money" by Tax Credits, Flickr Commons, (CC BY 2.0)

State budget officials say they are paying close attention to revenue as the state budget sees a flat growth at the start of the fiscal year.

Budget director Mary Lassiter says in her monthly briefing that August revenues ticked up, helping make up 2 percent of losses in July. But that leaves revenues flat, while forecasters had expected an almost 3 percent growth this year.

Lassiter says while warning alarms aren'’t going off yet, steady declines in income and sales taxes is giving her office causes for concern.

Kentucky General Fund Receipts Fall

Jun 12, 2012

Kentucky officials say General Fund receipts fell about $17 million dollars, or 2 and a third percent in May from figures a year ago. 

Beshear Offers Staff to Help Draft Kentucky Road Plan

Apr 11, 2012

Kentucky Governor  Steve Beshear is urging lawmakers to finish their work on a transportation budget and six-year road plan on the final day of this year's legislative session.  Beshear says the Kentucky's roads and bridges are the state's economic lifeblood, and not passing legislation to ensure their continued maintenance would do more than threaten public safety.  With time running out, lawmakers haven't yet reached agreement on what road construction projects to fund in the next two-year budget cycle or in an overall six-year plan.  Beshear says he will make State Budget Director Mary L