Gov. Andy Beshear said Kentucky should receive $2.6 billion in the latest COVID-19 stimulus program being addressed in Congress.
During a Tuesday media briefing, the governor said the American Rescue Plan, as it is known, is expected to win final approval on Wednesday.
Written by Tom Latek of Kentucky Today
“This is a transformational moment for our state,” Beshear said, “and how we use those funds can, I believe, end this recession sooner rather than later, and stimulate our economy in incredible ways. It can make once in a generation investment in infrastructure.”
Of the $2.6 billion, Beshear says $2.441 billion is for infrastructure while the rest is for capital projects. Of the infrastructure allocation, larger cities will receive $445 million, other cities $307 million, counties will receive $866 million.
The infrastructure funding can be used for such things as water, sewer, and broadband.
“When you look at water projects, for every million dollars that is put in, over 15 permanent jobs are created,” he stated. “When you look at the possibility of providing clean drinking water to every Kentuckian, to be able to support business and other growth by having modern sewers and drinking water, this could be our chance to make investments that aren’t only good for out people, good for our economy, but will also pay dividends moving forward and reduce our costs.”
Other uses, according to the governor, “Assistance to households, small businesses, non-profits, as well as aid to impacted industries such as tourism, travel, and hospitality.”
Currently, House and Senate conferees are working to craft the state budget for the fiscal year that begins July 1, and Beshear says legislators have asked for his administration’s thoughts on how to spend the American Rescue Plan money.
“We’re going to present that to them, and we hope to work with them,” he said. “We don’t have many opportunities like this, to truly be bold, to not have to borrow, and to do things that truly move the state forward. So, we ought to take advantage of it.”
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