FRANKFORT, Ky. (AP) — House Speaker Greg Stumbo says he is hoping Washington will again provide money to states like Kentucky that are straining under financial problems brought on by economic recession.
Stumbo told reporters on Friday that he believes congressional leaders recognize the difficulties that states are facing. He said he expects them to approve another aid package similar to the one provided last year that helped Kentucky deal with a nearly $1 billion revenue shortfall.
Gov. Steve Beshear has warned that revenue projections for the near future are even more glum. He projected the shortfall for the next budget cycle to be as much as $1.5 billion.
Beshear is scheduled to unveil his budget proposal on Tuesday. He hasn’t provided any details of the proposal, other than to say it will not include any broad-based tax increases.