FRANKFORT, Ky. (AP) -- Kentucky's state government finished the 2014 fiscal year about $90 million short.
State officials predicted they would collect $9.6 billion in taxes and fees in the fiscal year that ended June 30. But they collected $9.5 billion instead. The reason was what State Budget Director Jane Driskell called a significant slowdown in income tax collections. State income tax collections grew less than 1 percent from the 2013 fiscal year.
Kentucky's road fund was also short about $22.2 million. The state made more money from the gas tax because the tax automatically increased as the wholesale price increased. But it was not enough to offset the fact that people are buying less fuel.
Democratic Gov. Steve Beshear has not said how he plans to make up for the shortfalls.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.