Kentucky Governor Andy Beshear calls the state of the bluegrass economy, something to brag about.
The May 6th announcement included historic gains for the state. Including the April sales tax which brought in $486.5 million; an all-time monthly high for the commonwealth.
The road fund also benefited from a record $64 million in motor vehicle usage tax in April.
"Better than any April in our history in the Commonwealth. Meaning, more people were out, more people were able to purchase goods, more people were feeling good about our economy," said Gov. Beshear. "More people were in retail, more people were in restaurants; more people were everywhere which is a direct indicator of how much activity is going on in our economy."
According to Team Kentucky, the state will also close out the fiscal year with over a billion dollars in the rainy-day fund; which is a record surplus in the commonwealth's 229-year history.
Governor Beshear also reported that credit rating companies are indicating Kentucky's economy is "stable" and ahead of the national pace for pandemic recovery.
“This positive news is the fruit of putting politics aside when it came to defeating the coronavirus. It turns out that making decisions based on saving the most lives is also the best way to safeguard our livelihoods and economy,” said Gov. Beshear.
This news was accompanied by the announcement of upcoming restriction changes for Kentucky businesses. On May 28th, capacity limits will be increased.