economy en Kentucky's Budget Deficit Partly Fueled by Decline in Capital Gains Tax Reciepts <p></p><p>Kentucky is facing a $91 million budget shortfall, and one of the driving factors is a decline in a form of income primarily used by the nation’s wealthiest individuals.</p><p>In 2012, the U.S. Congress was preparing to take the country over the “fiscal cliff” over rising debt, rising healthcare costs, and spending on the wars in Iraq and Afghanistan. To reduce the deficit, President Obama proposed raising the federal capital gains tax, which largely impacted the nation's wealthiest, prompting a massive sell-off by 2013.</p><p>As a result, state budget forecasters anticipated a repeat of such revenue on what was essentially a one-time occurrence.</p><p>“All states knew of this change, and they made adjustments in their revenue estimates, but it was a much larger impact nationwide than states planned for,” said Kentucky State Budget Director Jane Driskell.</p><p>Driskell says there is no need for a special legislative session to address the shortfall. Governor Beshear could issue a budget reduction order to balance the state’s coffers. Fri, 11 Jul 2014 14:00:52 +0000 Jonathan Meador 50906 at Kentucky's Budget Deficit Partly Fueled by Decline in Capital Gains Tax Reciepts In Bowling Green, Coalition of Eclectic Groups Speaks Out for Immigration Reform <p></p><p>A coalition of business, political, and refugee-rights groups in south-central Kentucky is calling on Congress to pass immigration reform. &nbsp;</p><p>As part of a so-called national “Day of Action”, representatives from various backgrounds spoke Wednesday in Bowling Green about the need for Congressional &nbsp;leaders and the Obama Administration to get reform passed this year.</p><p>Barren County dairy farmer H.H. Barlow, a presidential appointee to the U.S. Board for International Food and Agriculture Development, said many Americans don’t understand the impact immigrant labor has on sectors such as the agriculture industry.</p><p>“I hate the word ‘criminals’, or ‘illegal aliens’—I don’t like that term. They’re workers. They’re performing an essential service to our country,” Barlow said.</p><p>The Barren County farmer said he speaks to his elected representatives about the need for immigration reform each time he sees them. Barlow believes that reform will not only benefit immigrants, but also the U.S. economy. Wed, 09 Jul 2014 21:46:34 +0000 Kevin Willis 50809 at In Bowling Green, Coalition of Eclectic Groups Speaks Out for Immigration Reform Study Looks at Costs of Three Owensboro-Area Interstate Plans <p></p><p>A new study is attaching cost estimates to proposals that would provide an interstate spur for the Owensboro region.</p><p>The study, commissioned by the Kentucky Transportation Cabinet, looked at plans for an I-69 spur-designation for the Audubon Parkway, and an I-66/I-65 spur for the Natcher Parkway.</p><p>Among the key findings of the study:</p><p>*The cost for upgrading over 23 miles of the Audubon, from Henderson to the U.S. 60 interchange at Owensboro, would run between $14 million and $15 million. Such a move would require the Pennyrile Parkway to be upgraded to I-69 status at the western end of the Audubon.</p><p>*Obtaining an I-65 spur status, by upgrading 72 miles of the Natcher Parkway stretching from I-65 in Bowling Green to U.S. 60 in Owensboro, would cost $66 million to $76 million.</p><p>*Upgrading U.S. 60 and 72 miles of the Natcher would cost as much as $148 million. The consultants advised against trying to designate U.S. 60 as a spur, citing high costs and the surrounding residential area. Mon, 02 Jun 2014 21:29:23 +0000 Kevin Willis 48972 at Study Looks at Costs of Three Owensboro-Area Interstate Plans Report: Over Half of Kentucky Residents Living Paycheck-to-Paycheck <p>A new report shows over half of Kentuckians are living paycheck-to-paycheck, and would fall below the federal poverty line if they lost their job.</p><p>The numbers come from the Corporation for Enterprise Development, a non-profit based in Washington D.C. that has released<a href="" target="_blank"> a scorecard focusing on the financial well-being</a> of households in each state.</p><p>The numbers for Kentucky aren't good.</p><p>Fifty-two percent of Kentuckians wouldn’t have enough money to get by at the federal poverty level if they lost their job. The report says that means more than half of households in the commonwealth “are one crisis away" from financial devastation.</p><p>Sixty-percent of Kentucky residents have sub-prime credit, which is defined as a credit score below 570.</p><p>Kentucky Center for Economic Policy Director Jason Bailey says the report is proof that the commonwealth has steeper economic challengers compared to many other states, because of Kentucky’s traditional reliance on low-wage jobs. Thu, 30 Jan 2014 19:44:37 +0000 WKU Public Radio News 43143 at In Appalachia, Poverty Is In The Eye Of The Beholder <em>President Lyndon B. Johnson went to eastern Kentucky in 1964 to promote his War on Poverty. But when he did, he opened a wound that remains raw today. People in the region say they're tired of always being depicted as poor, so when NPR's Pam Fessler went to Appalachia to report on how the War on Poverty is going, she was warned that people would be reluctant to talk. Instead, she got an earful. </em><p>Lee Mueller has lived in Martin County, Ky., for much of his life, and he covered President Johnson's visit there as a young reporter. Sat, 18 Jan 2014 15:56:00 +0000 Pam Fessler 42627 at Coal-Mining Area Grapples With How To Keep 'Bright Young Minds' <em>Fifty years ago today, President Lyndon Johnson stood before Congress and declared an "unconditional war on poverty in America." His arsenal included new programs: Medicaid, Medicare, Head Start, food stamps, more spending on education and tax cuts to help create jobs.</em><p><em>In the coming year, NPR will explore the impact and extent of poverty in the U.S., and what can be done to reduce it.</em><p>When President Johnson waged war against poverty in 1964, he traveled to Martin County, Ky., an Appalachian coal-mining region with a poverty rate of more than 60 percent, to promote his cam Thu, 09 Jan 2014 14:20:00 +0000 Pam Fessler 42201 at Coal-Mining Area Grapples With How To Keep 'Bright Young Minds' McConnell: Another Extension of Long-Term Unemployment Benefits Can't Add to "Unstainable Debt" <p>Kentucky’s senior U.S. Senator says any extension of long-term unemployment benefits must be paid for by cutting spending elsewhere.</p><p>Long-term unemployment compensation expired on December 28. Sixty Senators, mostly Democrats, voted Tuesday to open debate on legislation that would extend the program for three months.</p><p>Kentucky Republican Senators Mitch McConnell and Rand Paul voted against the procedure. In a speech on the Senate floor, McConnell said the Obama administration hasn’t done enough to improve the job prospects of those looking for work.</p><p>"Yes, we should work on solutions to support those who are out of work through no fault of their own. But there is no excuse to pass unemployment insurance legislation without also finding ways to create good, stable, high-paying jobs--and also trying to find the money to pay for it," Sen. McConnell said Tuesday. Tue, 07 Jan 2014 16:52:30 +0000 Kevin Willis 42111 at Economists See Kentucky Heading for $10 Billion Milestone <p>A panel of state economists is predicting that modest growth over the next two years will push Kentucky&#39;s annual General Fund revenue above $10 billion for the first time in 2016.<br /><br />The economists, serving on the Consensus Forecasting Group that advises government officials on revenue trends, agreed Friday that the state is continuing a slow rebound from economic recession.<br /> Sat, 12 Oct 2013 12:00:00 +0000 Associated Press 38355 at Economists See Kentucky Heading for $10 Billion Milestone U.S. Census Bureau: Kentucky has Fifth-Highest Poverty Rate in the Nation <p></p><p>New data from the U.S. Census Bureau show Kentucky with one of the highest poverty rates in the U.S. The figures are part of the &nbsp;bureau’s latest&nbsp; American Community Survey which was released Thursday.</p><p>Kentucky had the fifth-highest percentage of residents living in poverty in 2012, behind only Mississippi, New Mexico, Louisiana, and Arkansas. &nbsp;A little more than&nbsp; 823,000 Kentuckians, or 19.4 percent of the state’s population, suffer through poverty. That represents a 0.3 percent increase in the commonwealth’s poverty rate since 2011.</p><p>By comparison, Tennessee’s poverty rate stood at 17.9 percent in 2012, an improvement of 0.4 percent over 2011. The poverty rate in Indiana was 15.6 percent, which was also an improvement of 0.4 percent.</p><p>There was at least one bit of good news for the Bluegrass State in the latest survey. Kentucky is one of just three states to see a statistically significant increase in the rate of private health insurance coverage from 2010 to 2012.</p><p>You can see a report containing the latest American Community Survey data on poverty in the U.S <a href="" target="_blank">here</a>. Thu, 19 Sep 2013 18:58:11 +0000 Kevin Willis 37292 at U.S. Census Bureau: Kentucky has Fifth-Highest Poverty Rate in the Nation Kentucky Budget Experts Predict Meager Income Growth <p>Top state budget staffers are predicting meager revenue growth over the next two years in the General Fund and a slight decline in the Road Fund, largely because of Kentucky's slow rebound from economic recession.<br>&nbsp;&nbsp;&nbsp;<br>Government financial analyst Greg Harkenrider told a group of Kentucky's top economists on Thursday that collections from the individual income tax, the state's top revenue producer, is projected to rise between 1.6 percent and 4 percent in the next two fiscal years. That would help to offset projected declines in the coal severance tax and the cigarette tax.<br>&nbsp;&nbsp;&nbsp;<br>Those latest projections were presented Thursday to economists serving on the Consensus Forecasting Group, a panel charged with predicting long-term state government revenues. Fri, 16 Aug 2013 10:16:59 +0000 Associated Press 35624 at Kentucky Budget Experts Predict Meager Income Growth