KY Governor warns of possible $240 million budget shortfall
FRANKFORT, Kentucky: Coming just weeks after a special session had to be held in order to pass a state budget, Gov. Steve Beshear announced Kentucky could be facing a possible $240 million budget shortfall. The money is part of a federal spending bill that did not pass due to a Senate Republican filibuster on June 24.
Beshear said Kentucky is relying on the measure for a six month extension of a federal Medicaid match that would last until the end of the year. Without the $240 million the program would bring, the budget would have to be rebalanced, a task which he said would be "horrendous."
Last week, Beshear also signed HB 104 into law, designating the Corvette as the state's official car. Kentucky becomes the first state to have an official state car.