Proposed Fixes for Kansas Revenue to be Unveiled
Associated Press - October 1, 2016 7:34 am
A major financial rating agency says a structural imbalance in Kansas' budget is "likely to persist" even after the state increased income taxes.
Kansas Gov. Sam Brownback says a task force will outline proposals next week for improving the state’s revenue projections.
The Republican governor said Friday that the proposals are aimed at addressing problems the state has faced in predicting how much tax revenue it will collect. Brownback appointed the task force earlier this year.
Republican legislators slashed personal income taxes in 2012 and 2013 at Brownback’s urging, in hopes of stimulating the economy. The state’s tax collections have fallen short of expectations 31 of the 44 months since the first round of cuts took effect in January 2013.
The state exceeded its tax-collection targets in 23 of the 44 months before the first tax cuts took effect but struggled in 2009 in the Great Recession’s aftermath.