Post by Logan on Jan 25, 2016 15:24:35 GMT -6
FRANKFORT, Ky. -- Republican Gov. Matt Bevin says Kentucky's two-year spending plan must go "beyond break even," calling for the state to generate more money to fix the multibillion-dollar pension shortfalls that threaten the livelihoods of hundreds of thousands of public workers, teachers and police.
But Bevin, preparing to deliver his first budget proposal to lawmakers in a televised speech Tuesday, said in an interview with The Associated Press that his solution will not raise taxes. Instead, Bevin said his plan will include sweeping what he called "found monies," including unexpected windfalls from lawsuit settlements and judgments, into the retirement systems. He pointed to the unprecedented $870 million a judge has ordered an online poker company to pay the state as an example. That judgment is being appealed.
With every extra dollar going to the retirement system, that means other programs might not get the increases they requested or, in some cases, could have their budgets cut.
"I am doing intentionally the least amount we can do," Bevin said about his proposed cuts. "I'm trying to solve this problem a step at a time. But it's going to come not by dumping everybody on their ear."
Read more here: www.kentucky.com/news/state/kentucky/article56457319.html
But Bevin, preparing to deliver his first budget proposal to lawmakers in a televised speech Tuesday, said in an interview with The Associated Press that his solution will not raise taxes. Instead, Bevin said his plan will include sweeping what he called "found monies," including unexpected windfalls from lawsuit settlements and judgments, into the retirement systems. He pointed to the unprecedented $870 million a judge has ordered an online poker company to pay the state as an example. That judgment is being appealed.
With every extra dollar going to the retirement system, that means other programs might not get the increases they requested or, in some cases, could have their budgets cut.
"I am doing intentionally the least amount we can do," Bevin said about his proposed cuts. "I'm trying to solve this problem a step at a time. But it's going to come not by dumping everybody on their ear."
Read more here: www.kentucky.com/news/state/kentucky/article56457319.html