House Readies Budget Proposal
Frankfort, KY – House lawmakers spent Sunday evening negotiating a state budget deal that could include more money for teachers over the next four years.
House Speaker Jody Richards says the budget plan could also provide funding for more university projects than Governor Fletcher has proposed.
Democrat and Republican House leaders were wroking into the night on their version of a two year state spending blueprint.
The House plan would likely call for about a 3% annual raise for teachers.
Richards says colleges and universities would also get more money for projects in the House plan. He said there could be some additional money for projects recommended by the Council on Postsecondary Education that weren't in Fletcher's proposal.
The budget would also include funding for a Louisville arena and Richards says it would include wording about a particular location.
Fletcher's budget plan calls for $75 million in bonds to help pay for the arena. The total cost of the project is expected to be $381 million.