FRANKFORT, Ky. (LEX 18) — As 2024 wraps up, Gov. Andy Beshear is highlighting Kentucky's successes and speaking about the issues that he believes should be addressed in the new year.
In a sit-down interview at the Capitol on Wednesday, the Governor and First Lady Britainy Beshear touted Kentucky's economic success.
"I certainly think our economy is our high from this year," said Beshear. "[2024] is going to be our fourth best year ever in terms of private sector investment."
Beshear said Kentucky saw more than $6.9 billion in new investments and more than 9,400 new full-time jobs.
He said in 2025, the state should keep focus on issues that matter to Kentucky families, like good jobs, good infrastructure like roads, high-quality education and healthcare, and safety.
The Beshears, who are parents to two teenagers, often speak about building a better Kentucky for the younger and future generations. What kind of Kentucky are they envisioning?
"We want every Kentucky child to have opportunity in Kentucky - if this is where they choose to build their adult lives," said First Lady Britainy Beshear. "I think we've come so far. Our economy is on fire. Jobs are added every day. We have amazing colleges and universities."
"I hope that those things not only remain in place, but also grow and strengthen, so our children have every opportunity here that they can dream of," she added.
"I hope that we are creating a state that is an economic powerhouse where kids can chase any dream they want and never have to leave, if they don't want to," added Governor Beshear. "But also, one where we're taking care of each other. We're putting those structures in place to where if you're having that day that you're not okay, there's no stigma in reaching out and saying 'I need a little bit of help.'"
One thing that Kentucky must get done in 2025 is universal pre-K, according to Beshear.
"I think the biggest need that we have is universal pre-K," said Beshear. "That's both the education and childcare piece that then creates a workforce issue. We have a lot of parents of young children who are out of the workforce because childcare costs so much. And for some of them, they don't qualify for Head Start, but don't make enough to send their kids to pre-K. So, the result is we have over 50% of Kentucky's kids who aren't Kindergarten ready. Some don't ever catch up so that means we are failing them before they ever start school."
Republican legislative leaders have indicated that their big priority is to continue with further tax cuts. Beshear said he supports another cut to the personal income tax rate, but he emphasized that the state cannot lose too much revenue.
"I believe in balance," said Beshear. "The best way that we can provide services and stimulate our economy is the right balance. That means we can lower the personal income tax right now, but if the legislature races to bring it to zero, then, either they are going to raise sales taxes - which will make things cost more and things already cost too much - or they will try to raise property taxes."
