During his Tean Kentucky update Thursday, Gov. Beshear updated Kentuckians on a projected shortfall in state revenue this year.

The Governor said there are two reasons for this projected shortfall. First, federal tariffs are directly impacting spending and economic activity. Second, the income tax rate reduction cut $359 million for this fiscal year, representing one-half of the annual value.

The rate cut is effective January 2026. With this in mind, the Governor asked State Budget Director John Hicks to convene the Consensus Forecasting Group on Sept. 16 to make an official revision in the current year's revenue estimates for both the General Fund and the Road Fund.

"Since I took office, I have been committed to making Kentucky fiscally responsible, and that means balancing a budget. T

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