FRANKFORT, Ky. (WHAS11) – State economists say Kentucky is heading for an economic milestone.
They’re predicting that Kentucky’s annual general fund revenue will rise to more than $10 billion for the first time in 2016.
They say Kentucky is continuing a slow rebound from the recession so consumers are ready to start buying expensive items like cars again.
This will push up sales tax collections, one of the state’s chief sources of revenue.
Governor Steve Beshear will use this prediction to begin drafting a budget for 2015 and 2016 which he will present to the legislature in January.