Gov. Beshear to Cut $457M from General Fund Due to COVID-19

Gov. Beshear to Cut 7M from General Fund Due to COVID-19

Economic damage caused by the coronavirus will force more than $450 million in cuts to Kentucky’s General Fund, plus a potential special legislative session to downsize the Road Fund.

The necessity for deep budget cuts was officially set in motion Friday when a panel of economists reduced its revenue projections for the current fiscal year, which ends June 30.

The panel’s forecasts would result in significant shortfalls in both funds with reduced spending. The job of cutting about $457 million, or 4%, from the General Fund will fall to Gov. Andy Beshear.

Source: MG News

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