• State, local government need spending cuts, not federal bailouts

    State, local government need spending cuts, not federal bailouts0

    Everyone from elected officials, government unions, and the Brookings Institute is calling for hundreds of billions more in federal bailouts for states and local governments.  There’s no question that government-ordered shutdowns will cause tax revenue to plummet, but bailouts will only make matters worse for employers and individual taxpayers. The longer that states impose shutdowns,

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  • Kansas Consensus Undervalues COVID Economic Impact – Part 2

    Kansas Consensus Undervalues COVID Economic Impact – Part 20

    The economic effects from COVID-19 are on track to send state government into severe fiscal trouble. As such, a consensus group of state forecasters reduced tax revenue estimates,  anticipating a COVID economic shock. However, estimates from national forecasters cast serious doubt on how realistic Kansas forecasters are. There’s considerable evidence Kansas consensus group vastly underestimated

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  • Kansas Consensus Undervalues COVID Economic Impact – Part 1

    Kansas Consensus Undervalues COVID Economic Impact – Part 10

    Recently, state forecasters predicted a substantial reduction in state tax revenues as an economic impact of COVID-19. However, comparisons to the Great Recession as well as state forecasters’ history of projections can give key insights. They suggest the state government will have another off-target tax revenue prediction. On April 20th, economists and analysts from the

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  • Moody’s: Kansas, Missouri ill-prepared for COVID revenue declines

    Moody’s: Kansas, Missouri ill-prepared for COVID revenue declines0

    The state budgets of Kansas and Missouri are among the worst-prepared states in the nation, according to an April 9 report from Moody’s Analytics.   The main reason is that both states are below the national average in rainy-day balances as a percentage of fiscal 2019 general fund revenues. According to Moody’s, Kansas and Illinois are

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  • Kansas lockdown shrinks economy, needs post-COVID-19 reforms

    Kansas lockdown shrinks economy, needs post-COVID-19 reforms0

    Governor Kelly extended her statewide lockdown into May amidst signs that 25% of small businesses feel they are weeks away from closing permanently.  Now, new data details how difficult it’s been for Kansas businesses and families to make ends meet. According to these estimates, COVID-19 and, in no small part, government lockdowns have closed half

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  • Post-COVID Recovery Plan

    Post-COVID Recovery Plan0

    As the “peak” of the COVID-19 crisis nears, and passes, it will be increasingly important to look to what comes next. To look at how and when Kansans get back to work, how students are educated, and how state and local governments should respond. The plan outlined below represents a series of ideas – some

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