This Week In Conversation: How Will Coronavirus Hit State Coffers?
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As Kentucky responds to the coronavirus pandemic, the state is expecting to receive less tax revenue as the result of shuttered businesses and a dropoff in consumer spending.
Thanks to the federal CARES Act, Kentucky will receive $1.6 billion to help prop up the state’s ailing coffers, but the state will inevitably see a drop in income and sales taxes as more residents lose their jobs and save their money.
State legislators have tried to adjust to the financial uncertainty by passing a one-year budget, allowing them to come back next year and pass a new spending plan.
For this special episode hosted by Kentucky Public Radio Capitol Bureau Chief Ryland Barton, In Conversation discusses how the decline in revenue could affect state services and residents who depend on them.
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