State of the States Roundup

Kentucky

Kentucky residents are bracing themselves for a fiscal crisis but newly elected Governor Steve Beshear's State of the Commonwealth speech offered little more than spending cuts and grim predictions for how to handle the quandary. One of the reasons cited for the budget shortfall was "weaker-than-expected corporate income tax returns." Oddly, in his speech the Governor chose to ignore revenue raising options that would help to ensure Kentucky's fiscal solvency into the future.