House Democrats lead by Speaker of the House Jody Richards (D)-Bowling Green offered a new budget compromise plan on Tuesday that they say could re-open budget negotiations and avert a potential state budget crisis.
The plan would use $305 million in unexpected income tax revenue during the next budget cycle to divert into priorities like education. Primary/secondary education would receive an extra $60 million under the plan, while higher education institutions like Western Kentucky University would be given an extra $45 million.
The plan would also include passage of several of Governor Fletcher's tax reform plan, specifically, Richards says, those geared towards corporations and job creation.
Senate Republican leader Dan Kelly responded by saying the plan does not include enough of the Governor's tax reform package, which the Senate passed in its entirety during the General Assembly Session.
The current state budget will expire on June 30, and the House and Senate have not passed a unified budget plan to govern state finances beyond that point.
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