Kansas Hopeful About August Revenues
Kansas officials are awaiting word on whether the state's tax collections in August met expectations. The state Department of Revenue's report Friday afternoon was expected to renew a political debate over massive income tax cuts enacted at Republican Gov. Sam Brownback's urging. Brownback says the tax cuts are stimulating economic growth, but critics contend the reductions are wrecking the state's finances.
The Legislature's nonpartisan research staff is projecting that the state will face a $238 million budget shortfall by July 2016, even if tax collections meet the state's official projections between now and then. Kansas collected about $4 million more in taxes in July than anticipated, but tax collections in April, May and June fell a total of $334 million short of expectations.