Tuesday, November 11, 2014

More Good Economic News For Kansas

Heck of a job, Brownback:

Kansas will collect $1 billion less in revenue in 2015 and 2016 than its projected expenses following massive income tax cuts signed into law by Republican Gov. Sam Brownback.

The new revenue estimates released Monday revealed that Kansas would burn through about $380 million in reserves and still need to cut $280 million to balance its current budget for fiscal year 2015, which ends next June 30.

The problem continues in 2016 when revenues are projected to run $436 million short of expenditures, the estimates show.
Now yes, that sounds pretty bad, and you would think that the state should be doing something to make it less bad, but Brownie thinks the state's finances are doing just fine thank you very much:

Brownback’s budget director, Shawn Sullivan, said the administration has no intention of revisiting the state’s tax policy, which calls for further income tax cuts through 2018.

Sure, the original point of enacting the tax cuts was that they would supposedly create more revenue (because that is a thing that actually happens in reality, of course) , but just because it failed to achieve its primary goal doesn't mean we need to change course!

My favorite part from the report is this:

The state of Kansas must continue to live within its means just as families do every day,” Sullivan told reporters Monday. “Our primary focus will be to curtail growth in state spending through additional efficiencies and policy proposals.”
For those of you who aren't familiar with why trickle-down policies are not really held in a positive light by liberals, this is it. Republicans enact tax cuts that kill the revenue stream, which makes it difficult to pay for services, which Republicans then shed crocodile tears for and say "Welp, guess we gotta gut all these wonderful poverty programs. What a shame".

This is what the Kansas electorate voted for. Again. But hey, at least Brownback never went to a strip club, right?

Read more here: http://www.kansascity.com/news/government-politics/article3729756.html#storylink=cpy


Read more here: http://www.kansascity.com/news/government-politics/article3729756.html#storylink=cpyBrownback’s budget director, Shawn Sullivan, said the administration has no intention of revisiting the state’s tax policy, which calls for further income tax cuts through 2018.

Read more here: http://www.kansascity.com/news/government-politics/article3729756.html#storylink=cpy

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