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Variety in the Heartland |
Lawmakers Briefed On New Budget
03/04/10 WGC/AP
Kentucky House leaders have crafted a state spending plan containing sacrifices that are "fairly minuscule" when considering the gaping shortfall that needed plugging due to the weak economy, Speaker Greg Stumbo said Tuesday.
House Democratic leaders briefed rank-and-file members behind closed doors on the outlines of the two-year state budget proposal. Afterward, House Appropriations and Revenue Committee Chairman Rick Rand told reporters the revenue number pegged to support the spending plan could leave the budget some $75 million in the black in the second year.
The plan does not raise tax rates. It relies on such things as an accelerated collection of sales taxes and a temporary suspension of tax write-offs for businesses reporting losses. Rand said some of the surplus could be directed toward higher education. Some money could go toward rebuilding the state's budget reserve, he said.
Stumbo said the response from House Democrats to the proposal was overwhelmingly positive. He said the House leadership proposal treats "everyone as fairly as we could in light of the economic circumstances that we were faced with."
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