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Sat Jan 31, 2015, 02:23 PM

Kansas taxes $47M less than expected in January, complicating already strained budget picture


TOPEKA, KAN. – Kansas collected $47 million less than anticipated this month, signaling that Gov. Sam Brownback and legislators may have to be more aggressive with spending cuts or other measures to balance the budget.

But the Department of Revenue said Friday that a key factor was greater-than-expected income tax refunds during the month, with the federal government processing returns more quickly than it did last year. Department spokeswoman Jeannine Koranda said the state waits on the federal government to process each set of returns first, so faster federal processing means more state refunds earlier in the tax season — and the possibility that refunds could "even out" later.

The Republican-dominated Legislature is working on proposals to eliminate a projected $279 million shortfall in the current budget, which ends June 30. Brownback's budget director has said if lawmakers don't pass a budget-balancing bill by Feb. 13, the state may not be able to pay its bills on time.

House Speaker Ray Merrick, a Stilwell Republican, said his chamber's Appropriations Committee would build unspecified "additional contingencies" into its budget plan. Brownback has proposed selected cuts, but his plan relies heavily on diverting funds from highway projects and special funds into the state's main bank account, where the projected deficit occurs.

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http://www.foxbusiness.com/markets/2015/01/30/kansas-taxes-47m-less-than-expected-in-january-complicating-already-strained/

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Reply Kansas taxes $47M less than expected in January, complicating already strained budget picture (Original post)
n2doc Jan 2015 OP
valerief Jan 2015 #1
jwirr Jan 2015 #2
The Last Dem. Jan 2015 #5
jwirr Jan 2015 #8
fredamae Jan 2015 #3
on point Jan 2015 #4
The Last Dem. Jan 2015 #6
world wide wally Jan 2015 #7
blkmusclmachine Feb 2015 #9

Response to n2doc (Original post)

Sat Jan 31, 2015, 02:25 PM

1. God forbid they should tax rich people! nt

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Response to n2doc (Original post)

Sat Jan 31, 2015, 02:39 PM

2. What did they expect? When you cut everything and people lose their jobs - tax revenues go down.

So they cut some more and it is the same vicious cycle. That is why trickle down and austerity do not work. FDR showed us clearly that to get out of a depression/recession you have to invest in the worker who pays the taxes.

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Response to jwirr (Reply #2)

Sat Jan 31, 2015, 05:37 PM

5. Kansas !

Any nine year old paper boy, using 3rd grade math would know what they were doing would not work. Can’t believe they keep voting again they own best interest.

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Response to The Last Dem. (Reply #5)

Sat Jan 31, 2015, 09:40 PM

8. They are not alone. I think there are quite a few states with R governor that are having troubles

including WI and NJ.

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Response to n2doc (Original post)

Sat Jan 31, 2015, 02:52 PM

3. It's what Kansas voted for

when they (the majority) reelected him, was it not? I mean, the budget was already a total disaster before the election...jobs, benefits, infrastructure, education etc were long gone and/or people were suffering Waaaay before the election.
This is "Koch Kuntry" is it not? Wasn't this their grand libertarian experiment/utopia?

I feel badly for those who voted against this nonsense, including the few sensible Republicans ..but for those who voted For him again only to realize too late, that "the other guys/gals" are Correct.....I feel no sympathy.

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Response to n2doc (Original post)

Sat Jan 31, 2015, 02:53 PM

4. I suggest they start by cutting Governor salary in half, followed by legislators

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Response to on point (Reply #4)

Sat Jan 31, 2015, 05:43 PM

6. Good suggestion, Sorry

but that won’t happen.

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Response to n2doc (Original post)

Sat Jan 31, 2015, 06:19 PM

7. No wonder they reelected their Governor.

Tea party logic at it's best.

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Response to n2doc (Original post)

Sun Feb 1, 2015, 12:32 AM

9. Christian reconstructionist Gov. Brownback is determined to bankrupt the State, yes?!?!

 

Trickle down, bay-bee!!

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