A compromise to help employers avoid high federal unemployment insurance taxes has easily cleared a House committee. The proposal would allow Kentucky to borrow money from a bank or other organization to repay federal loans. Kentucky borrowed nearly one billion dollars from the federal government to pay for unemployment insurance during the recession.
The Office of State Budget Director Mary Lassiter says General Fund Receipts in the bluegrass state increased 3.8 percent in February, compared to February of 2011. Total revenues topped 574 million dollars, compared to just under 553 million dollars for the same month last year.
Owensboro leaders announced Friday a project that will invest 44 million dollars in the city's downtown area. A key portion of that investment will be a new convention class Holiday Inn hotel, to be located on the west side of the newly planned convention center. In addition, Boardwalk Pipeline Partners LP has come to a preliminary agreement with the Riverfront Jam, LLC developers to relocate the Owensboro office to a downtown location.
Officials with the U-S Treasury Department are trying to alert people who receive paper checks for Social Security benefits that they must switch to electronic payment by March first of 2013. Walt Henderson, the Director of the E-F-T Strategy Division of the U-S Treasury's Financial Management Service, says about fifteen percent of the recipients in Kentucky still receive paper checks and will need to make the change.
Second District Congressman Brett Guthrie of Kentucky says he's heard plenty of constituents expressing concern about higher gasoline prices in recent days. The Republican from Bowling Green says the higher prices at the pump are difficult for consumers to accept in an already troubled economy.