05/19/2026
Another reason to keep our Northern KY Leadership! Vote Kim Moser tomorrow!
STIVERS ON KENTUCKY GENERAL FUND REVENUES TOP $2 BILLION FOR FIRST TIME IN COMMONWEALTH HISTORY
“Every new report makes the doom-and-gloom predictions harder to defend and reinforces that Kentucky chose the right path forward.”
FRANKFORT, Ky. (May 18, 2026) — The following is a statement from Senate President Robert Stivers regarding the recent report from the Office of the State Budget Director showing record-setting general fund revenues and Kentucky’s continued strong fiscal position.
“For years, critics warned that tax relief and conservative reform would weaken Kentucky’s finances, claiming that letting taxpayers keep more of their own money would come at the expense of growth and stability. Instead, the commonwealth has grown more competitive, more financially stable and better positioned for the future because of these policies.
“For the first time in commonwealth history, Kentucky’s monthly general fund revenues exceeded $2 billion and continue to outperform expectations.
“These results reflect years of conservative leadership from the Republican-led General Assembly. Lawmakers reduced the individual income tax from 6 percent to 3.5 percent through a careful, trigger-based approach that protects taxpayers while maintaining long-term fiscal stability. Along the way, Kentucky created a better business climate, rewarded work and positioned the commonwealth for sustained economic growth.
“The report shows Kentuckians are keeping more of their hard-earned money because of lower tax rates while revenues continue to grow. That is exactly what responsible pro-growth policies were intended to do.
“Kentucky just posted the strongest monthly revenue performance in state history while maintaining healthy reserves, investing in infrastructure and education, and continuing to improve teacher and state employee pension stability through responsible budgeting. “Lawmakers stayed focused on responsible budgeting, conservative fiscal management and long-term growth despite repeated political narratives predicting these reforms would fail.
“April is traditionally Kentucky’s strongest revenue month because of tax filing deadlines, and one month alone does not determine a fiscal year. Even so, this record-setting revenue cannot be ignored. We are currently outperforming revised revenue estimates and appear positioned to finish the fiscal year ahead of where many projected just months ago.
“Every new report makes the doom-and-gloom predictions harder to defend and reinforces that Kentucky chose the right path forward.”
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BACKGROUND
The April general fund receipts report marked the first time in Kentucky history that monthly revenues exceeded $2 billion, with receipts up 15.2 percent from April 2025. Strong growth occurred across several major revenue categories, including sales tax collections, individual income tax receipts and major business taxes. The report also notes that withholding receipts declined because of Kentucky’s lower income tax rate. April is traditionally Kentucky’s strongest revenue month because of annual tax filing deadlines. According to the report, revenues could decline more than 16 percent over the final two months of the fiscal year and Kentucky would still meet official revenue estimates.
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