Governor Steve Beshear's Communications Office
Gov. Beshear’s Statement on Growth in August General Fund Receipts
FRANKFORT, Ky. – “Today’s August receipts report from the Office of the State Budget Director demonstrates tangible proof that Kentucky’s economy continues to add jobs, increase wages and grow sales. We’re increasing state revenues the old-fashioned way – not by raising taxes but by growing our economy. And that growth is accelerating.
The 7.6 percent growth – combined with strong growth in July – means Kentucky has seen 5.7 percent growth in receipts in the first two months of the fiscal year. That follows a 5.3 percent growth in revenues in the fiscal year that ended June 30, which enabled Kentucky to make an $82.5 million deposit in the state’s so-called Rainy Day fund.
This growth in receipts is the result of aggressive efforts to attract economic development and strong fiscal management of the state’s budget, two priorities of mine that have helped Kentucky recover from the recession. Our plan is working.”
– Gov. Steve Beshear
Download the Press Release from the State Budget Director (PDF)