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Tuesday, March 06, 2012

House Republicans Urge Hearing On Bill To Cap Kentucky's General Fund Debt.

KENTUCKY HOUSE REPUBLICAN CAUCUS

Contact:
Michael Goins
Director of Communications
House Republican Leadership
(502) 564-4334

FOR IMMEDIATE RELEASE

ATTENTION EDITORS: A copy of the letter sent by House Republicans to Chairman Rand is attached to this release.

House Republicans Urge Hearing and Passage of Bill That Would Cap Kentucky’s General Fund Debt
Republican leadership sends letter to House Appropriations and Revenue Chair urging hearing on Senate Bill 1

FRANKFORT, Ky. (March 6, 2012) – The Kentucky House Republican Caucus today called on Rep. Rick Rand, chairman of the House Appropriations and Revenue Committee to allow a committee hearing and vote on a bill that would essentially cap Kentucky’s General Fund debt compared to its revenue. In a letter signed by House Republican Floor Leader Jeff Hoover, R-Jamestown and a majority of House Republicans which was sent to Rep. Rand on Monday, the Republican members urged Rand to post Senate Bill 1 for consideration by the committee.

“We believe this is sound fiscal and public policy and in today’s economic climate, the citizens of Kentucky are demanding state government exercise such restraints,” the letter reads. “We believe this bill, if enacted, will be good for the Commonwealth of Kentucky.”

Senate Bill 1, which overwhelming passed the Senate with a vote of 34-2 on February 22, limits the Commonwealth’s General Fund Debt to not exceed six percent of Kentucky’s General Fund Revenue. The bill was assigned to the Appropriations and Revenue Committee on February 27, where it remains.

“We are hopeful that Chairman Rand will allow Senate Bill 1 to be heard and debated,” said Rep. Hoover. “As we face budget cuts and additional reductions in services, it is essential that we find ways to live within our means. It is our belief that Senate Bill 1 is a fiscally responsible step in that direction.

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