Kentucky faces big budget cuts amid plunging tax collections

FRANKFORT, Ky. (AP) -- Economic damage from the coronavirus will force more than $450 million in cuts to Kentucky's General Fund.

It also could lead to a special legislative session to downsize the Road Fund. The necessity for budget cuts was officially set in motion Friday.

That's when a panel of economists reduced its revenue projections for the current fiscal year.

The job of cutting about $457 million from the General Fund will fall to Gov. Andy Beshear. He says a special legislative session is needed to reduce the Road Fund.

That’s because the new projection for Road Fund revenues amounted to a larger percentage drop.