State budget analysts are predicting ‘less than robust’ growth over the next two years in the Commonwealth’s general fund. A slight decline is projected in the state’s road fund. Government financial analyst Greg Harkenrider told a group of Kentucky’s top economists today collections from the individual income tax are expected to go up between one and a half and four percent in the next two fiscal years.
That would help offset projected declines in coal severance and cigarette tax revenues. The latest projections were part of a presentation before the Consensus Forecasting Group. It’s a panel charged with plotting long term state government revenues.