Gov. Beshear: $1.7 Billion in Additional Revenue Can Fully Fund Medicaid, Senior Meals, Pre-K and Help Families Afford What They Need

Consensus Forecast Group met Tuesday by request of State Budget Director

FRANKFORT, Ky. (Sept. 22, 2026) - Today, Gov. Andy Beshear announced that the Consensus Forecasting Group has revised the official General Fund revenue estimate for fiscal years 2027 and 2028 and now predicts that revenues will exceed the budgeted estimate by $997.9 million in fiscal year 2027 and by $708 million in fiscal year 2028. The Governor is proposing the higher revenues go toward closing the Medicaid gap, fully funding senior meals, implementing Pre-K for All and helping families afford what that need, such as housing, utilities and more, during the next legislative session.

"Thanks to strong fiscal management by my administration and our surging economy, Kentucky is in a strong position, and today's revision by the Consensus Forecast Group confirms that," said Gov. Beshear. "I recognize that, while our state is seeing success, hardworking families across the country continue to struggle because of President Trump's harmful tariffs, cuts to healthcare and ongoing war of choice. I am going to make sure these dollars go directly to the areas that help lift up Kentuckians during this challenging time, because that's the right thing to do."

Following an economic surge that led to a $476 million revenue surplus last fiscal year and an unexpected amount of corporate income tax payments totaling over $350 million in July, State Budget Director John Hicks, who also serves as secretary of the Governor's Executive Cabinet, wrote a letter requesting that the Consensus Forecasting Group convene and revise the official General Fund revenue estimate for fiscal years 2027 and 2028.

The updated revenue estimates from the Consensus Forecasting Group would increase the total amount for fiscal year 2027 to $16.9 billion and $17 billion for fiscal year 2028. Over the coming months, the Governor and his administration will develop a plan with specifics on how the unexpected influx of funds will be used as it relates to Medicaid, senior meals, expanding pre-K programs and general affordability.

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