FRANKFORT, Ky. (AP) - The economic recession is causing additional financial woes for state government.
A panel of state economists predicted Monday that the state could face an additional $160 million revenue shortfall this fiscal year.
That prediction came on the heels of an announcement Friday that income tax revenue had fallen nearly 10 percent compared to last September.
State Budget Director Mary Lassiter released a report on Friday that showed total general fund revenue for September at $725.6 million, down from $804.6 million in September 2008.
Sales tax revenue dropped by 6.6 percent in September. Revenue from property taxes and coal severance taxes declined by 16.2 percent and 12.7 percent respectively.
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