Kentucky’s budget increased cumulatively more than pop+inf in state funds and all funds from 2014-23, meaning taxes are higher than the average taxpayer can afford.

  • The 2023 state funds budget is $7.3 billion higher than it would have had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds budget grew faster than population growth plus inflation for the last ten years, the state spent and taxed $21.5 billion too much.
  • The 2023 all funds budget is $16.7 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the all funds budget grew faster than population growth plus inflation over the past decade, the state spent and taxed $68.2 billion too much.

State Funds Budget Data

  • Estimated FY 2024 Only State Funds Budget ($ Billions): $29.91
  • FY 2025 Only State Funds Budget Limit ($ Billions): $31.56
  • FY 2025 Only State Funds Budget Limit Growth ($ Billions): 5.49%
  • Cost per person of state funds budgeting more than pop+inf over the last decade in 2023 budget: $1,622
  • Cost per family of 4 of budgeting more than pop+inf over the last decade in 2023 budget: $6,488
  • Cumulative cost per person of state funds budgeting more than pop+inf over the last decade from 2014-23: $4,752
  • Cumulative cost per family of 4 of state funds budgeting more than pop+inf over the last decade from 2014-23: $19,010

State All Funds Budget Data

  • Estimated FY 2024 All Funds Budget ($ Billions): $51.61
  • FY 2025 All Funds Budget Limit ($ Billions): $54.44
  • FY 2025 All Funds Budget Limit Growth ($ Billions): 5.49%
  • Cost per person of all funds budgeting more than pop+inf over the last decade in 2023 budget: 3,681
  • Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2023 budget: 14,726
  • Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2014-23: 15,069
  • Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2014-23: 60,278

Other Considerations