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 bureau’s latest American Community Survey which was released Thursday.
Kentucky had the fifth-highest percentage of residents living in poverty in 2012, behind only Mississippi, New Mexico, Louisiana, and Arkansas. A little more than 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.
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.
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.
You can see a report containing the latest American Community Survey data on poverty in the U.S here.
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.
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.
Those latest projections were presented Thursday to economists serving on the Consensus Forecasting Group, a panel charged with predicting long-term state government revenues.
The budget outlooks in both Kentucky and Tennessee are healthier than they were this time last year. Kentucky Budget Director Jane Driskell announced Friday that the state’s general fund receipts for the first month of the fiscal year were up two-percent over July of last year.
Tennessee, meanwhile, has ended its budget year with a $42 million budget surplus, fueled partly by a nine-percent increase in the Volunteer State’s corporate tax receipts. Governor Bill Haslam’s office hasn’t said yet what he plans to do with the extra money.
Kentucky’s junior U.S. Senator says he’s developing a “Republican alternative” to a Detroit bailout plan.
Speaking on the Glenn Beck radio show, Senator Paul said he is talking with his staff about ways to help economically depressed areas of the country, like Detroit. The Bowling Green Republican said he would like to look at ways to “have some tax forbearance, reduce some taxes, encourage businesses, encourage people to come in and take abandoned property.”
Politico reports Paul is opposed to the idea of borrowing money to bail out the city, but he is suggesting the government should redirect foreign aid sent to countries like Egypt, and instead use it on infrastructure projects in the U.S.
A national poll conducted by Quinnipiac University shows that a majority Democrats believe the federal government should bail out Detroit, but an even larger majority of Americans oppose such a move.