Tuesday, February 02, 2010

Balancing the Budget in Kentucky

On the left side of the scale:
Every House member up for election in November.

On the right side are such lightweight issues as:
Hundreds of millions in structural imbalances
Decreasing revenue due to outmoded tax structure
Ability to procrastinate by cobbling
together a budget for the first year
Dreams of more federal dollars
State Programs cut
State planning damaged
But Special Projects funded
Special Session in 2011...
after the election

Is that about right?

This from WAVE 3 TV:

Budget writers still working on plan

A leading House budget writer says nothing is safe from possible budget cuts as Kentucky lawmakers look to plug a massive shortfall for the state's next budget.

House Appropriations and Revenue Committee Chairman Rick Rand told reporters Tuesday that it appears there will be no new revenue to help balance the next two-year budget.

Rand said top House budget writers are still considering several options, but said lawmakers will consider everything when looking at possible budget cuts.

He listed funding for elementary and secondary public schools as the last place lawmakers would look in seeking budget cuts. He also downplayed tapping school contingency funds.

A slowdown in tax collections caused by the recession has led to a projected $1.5 billion shortfall over the next two-year budget cycle.

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