Kentucky Senate Republicans have put forward their version of the state’s next two-year budget, which includes increased funding for K-12 schools and public universities, as well as several one-time investments.
The budget proposal is set to be voted on in the full Senate after clearing a Senate committee. The final version of the budget will be negotiated between the House and Senate conferees, with the GOP holding supermajorities in both chambers.
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The budget plan includes more funding for the state’s main K-12 school funding formula, known as SEEK, with per-pupil funding set to increase to $4,368 in the first fiscal year and $4,455 in the second year. The proposal also doubles the amount of performance-based funding for public universities to about $200 million per year.
Additionally, the budget includes several one-time investments, such as a $75 million appropriation for a one-time additional pension payment for retirees in the Kentucky Employee Retirement System to help offset the impact of high inflation.
Other one-time funding priorities include $50 million for an economic development fund and a combined $37 million for cancer centers in Middlesboro and Bullitt County.
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The budget proposal also includes a 2.6% pay raise for state employees in each of the two years, as well as increased funding for state police to increase the number of cadets going through training to become troopers. It also proposes increasing juror compensation from $5 to $25 per day.
However, the Senate plan does not include two of Democratic Governor Andy Beshear’s priorities – guaranteed pay raises for teachers and access to preschool for every Kentucky 4-year-old.
Instead, Republican lawmakers want to direct additional money to K-12 schools and leave it up to local school districts to decide on pay raises for teachers.
The Senate’s budget proposal reflects a conservative approach to spending, with a focus on investing in education and public safety while also maintaining fiscal discipline. The budget now moves to the full Senate for consideration before being finalized in negotiations between the House and Senate.
