someoneyouknow
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Kansas Tax Patches Fail as Tea-Party Experiment Riles Residents
Kansas lawmakers in June approved the largest revenue increase in state history thinking they’d closed a $400 million hole created by income-tax cuts Republican Governor Sam Brownback pushed through three years earlier. They hadn’t.
The state took in $66 million less than expected in the three months ending Sept. 30, and the turmoil is expected to worsen next week when a panel of economists issues its annual projections. They are likely to confirm the need for the Republican-controlled legislature to adjust the budget again because promised benefits from the decrease in taxes still haven’t materialized.
"The income-tax cuts passed in 2012 and ’13 were way too steep and way too quick," said Senator Jeff Longbine, a Republican from Emporia. "The revenue continues to decline and we have to do something."
Read more at:
http://www.bloomberg.com/news/articles/2015-10-29/kansas-tax-patches-fail-as-tea-party-experiment-riles-residents
Though I have to admit, the graph in the story has fantastic lines. Some choice quotes:
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. . .
Kansas lawmakers in June approved the largest revenue increase in state history thinking they’d closed a $400 million hole created by income-tax cuts Republican Governor Sam Brownback pushed through three years earlier. They hadn’t.
The state took in $66 million less than expected in the three months ending Sept. 30, and the turmoil is expected to worsen next week when a panel of economists issues its annual projections. They are likely to confirm the need for the Republican-controlled legislature to adjust the budget again because promised benefits from the decrease in taxes still haven’t materialized.
"The income-tax cuts passed in 2012 and ’13 were way too steep and way too quick," said Senator Jeff Longbine, a Republican from Emporia. "The revenue continues to decline and we have to do something."
Read more at:
http://www.bloomberg.com/news/articles/2015-10-29/kansas-tax-patches-fail-as-tea-party-experiment-riles-residents
Though I have to admit, the graph in the story has fantastic lines. Some choice quotes:
The effort included cuts to education and borrowing to make required pension payments. From 2013 through the 2016 fiscal years, more than $400 million was siphoned from the highway fund, which is used for road construction and maintenance.
. . .
Bob Totten, executive vice president of the contractors’ group, said highway maintenance has been scaled back sharply. Instead of repairing 115 bridges annually, this year will be 58. Instead of 1,200 miles of roads maintained, it’ll be about 200 or less, Totten said.
"The tax cuts might work, but I think it’ll take 11 or 12 years," Totten said. "We’re not a tourist state, we don’t bring in a lot of people. And we haven’t had a beach in Kansas in more than 3 million years."
"The tax cuts might work, but I think it’ll take 11 or 12 years," Totten said. "We’re not a tourist state, we don’t bring in a lot of people. And we haven’t had a beach in Kansas in more than 3 million years."
. . .
"In a normal political universe, poll numbers like this should be pushing the legislature to do something," said Bob Beatty, a political science professor at Washburn University in Topeka, the capital. "But the disconnect between the policies coming out of the capital and public opinion is so vast."
Totten said he doesn’t expect big changes in fiscal policy until 2019, after term limits force Brownback to leave office.
"The new governor will have the hellacious duty of having to raise taxes," Totten said. "And he’ll serve one term."
Totten said he doesn’t expect big changes in fiscal policy until 2019, after term limits force Brownback to leave office.
"The new governor will have the hellacious duty of having to raise taxes," Totten said. "And he’ll serve one term."
