Kentucky faces big budget cuts amid plunging tax collections

FRANKFORT, Ky. (AP) — Economic damage from the coronavirus will force more than $450 million in cuts to Kentucky’s General Fund. It also could lead to a special legislative session to downsize the Road Fund. The necessity for budget cuts was officially set in motion Friday. That’s when a panel of economists reduced its revenue projections for the current fiscal year. The job of cutting about $457 million from the General Fund will fall to Gov. Andy Beshear. He says a special legislative session is needed to reduce the Road Fund. That’s because the new projection for Road Fund revenues amounted to a larger percentage drop.