budget stabilization fund

Kansas collects higher state tax per capita than average 0
- Tax & Spending
- May 8, 2023
The KLRD’s recently released budget profile predicted a massive $3 billion ending surplus in FY 2024 even AFTER the potential tax relief from implementing a flat tax in Kansas. Even more, this doesn’t include an additional $1.6 billion in the state’s Budget Stabilization Fund. Yet, this bill and other commonsense tax reforms failed to get
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Governor Kelly vetoes tax relief amidst budget surplus 0
- Tax & Spending
- April 24, 2023
This morning, Governor Kelly vetoed SB 169, a tax package that includes provisions to flatten the income tax and eliminate the food sales tax. The legislature will have the chance to override it with a two-thirds majority vote in each chamber. Instead, Kelly proposed a rebate of $450 per person over the summer totaling $800
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Kelly’s budget a malaise of meager tax cuts and hidden spending 0
- Tax & Spending
- January 16, 2023
Kansas Governor Laura Kelly’s recommended budget for fiscal year 2024 totals $24.1 billion across All Funds spending but falls short of providing substantive tax reform. Instead, it offers minor tax changes and large spending increases. Tax Reform Falls Short Kelly has called alternatives to her tax relief policies “irresponsible, reckless tax cuts that threaten our
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Debunking 6 Myths About a Flat Tax 0
- Tax & Spending
- December 27, 2022
States across the country are joining the “Flat Tax Revolution,” in which a tax system with graduated rates based on income is modified so that one, typically lower, tax rate is applied to everyone’s taxable income. A few weeks ago, we discussed some reasons why a flat tax is beneficial, and now, here are six
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Turn Short-Term Surpluses Into Long-Term Tax Relief 0
- Tax & Spending
- April 25, 2022
If it wasn’t clear enough already, recent tax estimate updates show Kansas is awash with excess funds from over-taxation. The Kansas Legislative Research Department’s recent tax revenue estimate update for April 2022 increased the estimate for FY 2023 by $407.8 million for a whopping total of $9.5 billion in State General Fund tax collections. It’s
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