Hancock Ruling Fails To Change Holden’s Budget Plan

Governor Bob Holden says the recent Hancock Amendment ruling by the State Supreme Court does not change his approach to the budget. Holden estimates the state will run $300-Million short of the money it needs to finish the current budget year. He’s made cuts and proposes using $127-Million in money from the national tobacco settlement to make up the shortfall. Holden acknowledges the Supreme Court ruling that blocks potential Hancock refunds totalling $500-Million eases budget concerns, but he’s not convinced the state is out of the woods. The House has rejected Holden’s plans to use tobacco funds. The Senate Budget Committee has accepted it. That could lead to a showdown between the two chambers.