6 May 2020 - John Charlton (WHAS11-ABC)
LOUISVILLE, Ky. — Kentucky is living in the now when it comes to COVID-19, but predicting what happens next is a difficult thing.
The state is approaching 600,000 unemployment claims, and paying them out to keep people going is certain to affect the state’s bottom line. That, as well as a huge hit to income tax and sales tax revenue.
“The income that people earn makes up a significant portion of both state and local tax revenues,” Dr. Mike Clark, an economist at the University of Kentucky, said.