Wednesday, March 03, 2010
Stumbo On The Budget
KENTUCKY...
Kentucky House Speaker Greg Stumbo says a proposed state spending plan drafted by House leaders includes sacrifices that are ``fairly minuscule.'' House Democratic leaders briefed rank-and-file members Tuesday on the outlines of a budget blueprint for the two-year budget cycle beginning July 1. House budget committee chairman Rick Rand told reporters that a final revenue number has been settled on that creates about $75 million in extra funds in the second year of the budget. The plan doesn't raise tax rates but includes such things as accelerated sales tax collections and a temporary suspension of tax write-offs for businesses reporting losses. The proposal also relies on spending cuts and other steps to help overcome a massive shortfall.
Kentucky House Speaker Greg Stumbo says a proposed state spending plan drafted by House leaders includes sacrifices that are ``fairly minuscule.'' House Democratic leaders briefed rank-and-file members Tuesday on the outlines of a budget blueprint for the two-year budget cycle beginning July 1. House budget committee chairman Rick Rand told reporters that a final revenue number has been settled on that creates about $75 million in extra funds in the second year of the budget. The plan doesn't raise tax rates but includes such things as accelerated sales tax collections and a temporary suspension of tax write-offs for businesses reporting losses. The proposal also relies on spending cuts and other steps to help overcome a massive shortfall.
# posted by Homer Owens @ 8:37 AM 
