Improved economy means more money for state budget - WDRB 41 Louisville News

Improved economy means more money for state budget

Posted: Updated:

FRANKFORT, Ky. (AP) -- An improving economy will mean more tax revenue flowing into Kentucky's General Fund. But lawmakers are being told it won't be enough to cover the cost of shoring up government pension plans and a cash-starved education system.

Gov. Steve Beshear warns more budget cuts could be on the way to free up money for schools.

That's even though the state's top economists are predicting General Fund revenue will grow by nearly $500 million over the next two-year budget cycle.

Beshear and lawmakers will have to begin putting $200 million a year into the pension system to restore its solvency.

Beshear says he wants more money for schools, and says that could mean cuts elsewhere.

The Department of Education has asked lawmakers for an additional $336 million to restore funding to pre-recession levels.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Closed CaptioningMore>>

  • Closed Captioning Message

    Thanks to a grant from Norton Healthcare, this story and others are available in real-time closed captioning on WDRB.
    Thanks to a grant from Norton Healthcare, this story and others are available in real-time closed captioning on WDRB.More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WDRB. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.