Governor Bevin doesn’t anticipate the special legislative session planned later this year to provide all the tax reform solutions.
The governor reiterated his intent to call lawmakers back to Frankfort for a tax session before the end of the year.
But, Bevin says it won’t be a session to end all sessions on tax reform. “Not everything we would like to get done will get done necessarily in this single session,” said Bevin. “I mean taxes are an ongoing thing, not only for Kentucky, but for every state, everywhere. There’s always some moving part.”
The governor is not overly concerned about projections of a $113 million revenue shortfall the end of June.
He says the shortfall amount could decline between now and the end of the fiscal year. “We’re monitoring it. We’re looking at it. I don’t worry about it. Now, we will do what is necessary to ensure that the budget is balanced, but we have it well in hand,” Bevin said.
Governor Bevin says the special session anticipated in a few months will also work to further reform state pensions.
The governor offered his thoughts on tax changes following his participation in Lexington’s ribbon cutting of a new Valvoline corporate headquarters.