Bevin closes $152M budget shortfall and repeats call for tax reform
FRANKFORT -- Gov. Matt Bevin took various financial steps Friday to close a $152.2 million state budget shortfall and used the occasion to repeat his call for updating Kentucky’s tax laws.
The Republican governor said in a news release that the shortfall “validates the need for conservative spending plans, and it dramatically underscores the critical need for fixing Kentucky’s broken pension systems and modernizing the state’s tax code.”
Bevin press secretary Woody Maglinger said the governor “remains committed” to calling state lawmakers into a special session this year to pursue both tax and pension reform.
State Budget Director John Chilton announced earlier this week that Kentucky ended fiscal year 2017 on June 30 with $138.5 million less in revenue than expected in the General Fund, which pays for most state programs.
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