![]() ![]() Laura Kelly warns against 'irresponsible' tax cuts More: These tax cuts will be prioritized this legislative session as Kansas enjoys $2.3B surplus Gov. Kansas also has about $1 billion in a rainy day fund. ![]() Tax collections for the two months since those forecasts have been $104 million above estimates, suggesting this year's budget surplus is more like $2.4 billion. The state's latest revenue forecasts from November project a $2.3 billion surplus for the current fiscal year, which ends June 30, and $3.2 billion surplus for the next fiscal year. ![]() A Special Committee on Taxation studied several proposals during the fall, but a flat tax was not among them. How to cut taxes - and by how much - is set to be a major point of debate among legislators in Topeka this session. Lawmakers undid the experiment in 2017 over Brownback's veto after years of budget cuts. While additional bills later amended the Brownback tax plan, the original 2012 law in HB 2117 was projected to reduce revenues by $803 million in fiscal year 2014 and $934 million by fiscal year 2018. I think we can be fiscally responsible that's still good for the taxpayers." "But we'll work with leadership and come up with something. "We kind of anticipated it being a high fiscal note, knowing that that exclusion was in there," Stafford said. Stafford said the high cost of the tax cut is largely due to a provision intended to keep a flat tax from raising taxes on poor Kansans. "It's a little higher than anticipated," said Chamber lobbyist Eric Stafford, adding that the fiscal note does not change their stance on moving to a flat tax in some form. Fiscal estimates released Monday on HB 2061 put the cost to state revenues at about $1.5 billion a year. The Kansas Chamber's plan would generally implement a 5% flat tax on both personal and business income. Sam Brownback that were eventually repealed amid massive budget shortfalls. A plan by the Kansas Chamber to implement a flat income tax would come with a price tag far bigger than the tax cuts of former Gov. ![]()
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