FRANKFORT, Ky. - The Latest on Kentucky Gov. Matt Bevin's decision to veto the budget and a tax increase (all times local):

4:25 p.m.

Kentucky's Republican governor has vetoed the state's two-year operating budget and a corresponding tax increase .

Bevin signed the vetoes Monday afternoon a few hours after announcing his intention in a news conference.

Bevin's veto message says the spending plan is not balanced because it would spend roughly $50 million more than the state is projected to collect in revenue from the new taxes. He also criticized lawmakers for agreeing to spend $600 million more than he initially proposed. He said the plan ignores fiscal reality.

Republican lawmakers said Bevin is misguided. They asked to meet with him before he signed the veto. It's unclear if that happened.

Lawmakers could override Bevin's vetoes on Friday.

___

1:15 p.m.

Republican legislative leaders in Kentucky say Gov. Matt Bevin is misguided in his interpretation of the state's budget and have asked to meet with him before he vetoes it.

Bevin announced Monday that he would veto the state's two-year operating budget and some new taxes that would pay for increased education spending. Bevin said the new taxes would leave the budget out of balance and create a shortfall.

Senate President Robert Stivers and acting House Speaker David Osborne disputed Bevin's assertion of a shortfall. They asked to meet with him before he vetoes the bills. Lawmakers are scheduled to return to Frankfort on Friday and Saturday.

___

12:03 p.m.

Kentucky's Republican governor says he will veto a $480 million tax increase and a two-year operating budget the GOP-controlled legislature approved to pay for public education at a time of teacher protests across the country.

Gov. Matt Bevin held a news conference Monday to say he plans to veto the legislation, which would impose a 6 per cent sales tax on a variety of services including auto and home repairs. The plan would also have cut income tax rates for some individuals and businesses.

Bevin said the tax bill is not as thoughtful or comprehensive as it should be. And he said it leaves the state's two-year operating budget out of balance.

Lawmakers return to Frankfort on Friday. Republican leaders have said they would override a veto.

News from © The Associated Press, 2018