Gov. Beshear Glad Lawmakers Are Talking Pension Solutions

By: Associated Press
By: Associated Press

Gov. Steve Beshear is heartened that lawmakers are discussing sources of revenue to bolster Kentucky's financially troubled pension system for government retirees.

The second-term Democrat said he's good with one of the latest options being floated in Frankfort, allowing slot-like machines to be installed at horse racing tracks statewide and taxing the proceeds to generate cash for pensions.

In Kentucky, slot machines are banned. But two tracks have installed similar "Instant Racing" machines that allow people to wager on the outcomes of past horse races. House Speaker Greg Stumbo said he believes Instant Racing could generate wagers totaling $1 billion a year if expanded to additional tracks. Taxing those wagers could produce some $30 million for pensions.

A legal challenge to Instant Racing is pending before the Supreme Court.


WBKO.com is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, no links, share your knowledge, and please suggest removal of comments that violate these standards.

powered by Disqus
WBKO 2727 Russellville Road Bowling Green, KY 42101-3976 Phone: 270-781-1313 After Hours Hotline: 270-781-6397 Fax: 270-781-1814
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 191906011