0 Comments for this article

Tags: , , ,

FRANKFORT, Ky. (AP) — A key bond rating agency has applauded Kentucky lawmakers for stopping what would have been a 5-cent drop in the state gas tax.

Kentucky drivers were scheduled to get a break at the pump on April 1 as Kentucky’s gas tax was scheduled to drop to 21.1 cents per gallon. But the drop would have cost the road fund about $150 million, and state transportation officials warned the road fund would run out of money by 2016.

Instead, lawmakers agreed to set the gas tax at 26 cents per gallon in a bill that passed after midnight on the legislature’s last day. Moody’s Investors Service declared the action a "credit positive" on Thursday, saying it will help the state make payments toward its $1.6 billion in outstanding bond debt.

Comment on this Story

Leave a Reply

Be the First to Comment!

Notify of

Related News

uk beats boston 82-62
8 hours ago
0 Comments for this article
UK beats Boston 82-62
Read More»
voting rights restores for felons
9 hours ago
0 Comments for this article
Governor restores non-violent felons’ voting rights
Read More»
petrino on uk uofl rivalry
10 hours ago
0 Comments for this article
When did you know the rivalry was real?
Read More»