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There is good news and bad news for Kentucky as your General Assembly drafts a new biennial budget during this year’s legislative session. Let’s start with the good news: revenues are up.
For the current fiscal year (FY12) revenue to the state from all general fund sources is up over $137 million from what we budgeted. The forecasting group also projects a modest increase in tax revenue over the next two-year budget period, assuming the tax structure remains as it is today. Let’s hope they’re right – on both counts.
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