Gov. Andy Beshear said Kentucky's revised revenue forecast would give the state $1.7 billion more than budgeted, and he wants it spent on Medicaid, senior meals, Pre-K for All and family affordability.
The Consensus Forecasting Group, which met Tuesday at the request of State Budget Director John Hicks, now predicts General Fund revenues will exceed the budgeted estimate by $997.9 million in fiscal year 2027 and by $708 million in fiscal year 2028. The revised estimates raise the totals to $16.9 billion for fiscal 2027 and $17 billion for fiscal 2028.
Beshear said he will propose using the higher revenues to close the Medicaid gap, fully fund senior meals, implement Pre-K for All and help families afford housing, utilities and more in the next legislative session.
"Thanks to strong fiscal management by my administration and our surging economy, Kentucky is in a strong position, and today's revision by the Consensus Forecast Group confirms that," Beshear said.
The governor also pointed to national pressures, saying families "continue to struggle because of President Trump's harmful tariffs, cuts to healthcare and ongoing war of choice."
Hicks, who also serves as secretary of the Governor's Executive Cabinet, requested the revision after a $476 million revenue surplus last fiscal year and more than $350 million in unexpected corporate income tax payments in July.