Income Tax Archives - Kansas Policy Institute

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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Four Reasons for a Flat Tax 0
- Tax & Spending
- December 12, 2022
Over the last year, a “Flat Tax Revolution” kicked off with four states across the country enacting legislation to go down to a single personal income tax rate; Kansas, along with many states, has a graduated system whereby different income levels are taxed at different rates. The Sunflower State would likely benefit from joining those
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Declining economic indicators show need for tax relief in Kansas 0
- Tax & Spending
- December 2, 2022
This year’s underperformance in job growth and overall economic activity is now significantly impacting state revenue, according to the November tax collection report. It’s another sign that Kansas needs tax relief to end its five decades of stagnation. Compared to November 2021, the income tax collected last month was only 0.9% higher. With 12-month inflation
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Viva la Flat Tax Revolution!0
- Tax & Spending
- November 23, 2022
In their November 2022 Revenue Estimate Report, the Consensus Estimating Group increased their estimate for FY 2023 state general fund receipts by 22.6% compared to April’s estimate, which equates to $9.7 billion total for the fiscal year. At the same time, the actual revenue intake for FY 2022 decreased by 10.6% compared to the estimates
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Inaccurate revenue estimates aren’t a sign for more spending 0
- Tax & Spending
- November 1, 2022
Kansas’s spending season is on the horizon, and the state’s tax revenue will play a big part in determining how much taxpayer money is spent by Topeka. The latest data continue the streak of breaking revenue estimates, but shouldn’t be interpreted as a reason for big spending. In October 2022, the state of Kansas took
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Governor Kelly Ranked “C” in Fiscal Policy: ranked below nearby governors 0
- Tax & Spending
- October 17, 2022
This year, Kansas Governor Laura Kelly earned a C on the Cato Institute’s Fiscal Policy Report Card on America’s Governors for 2022. The gradings were calculated from seven variables including the growth of general fund spending, the approval or veto of tax reform, and changes in income and sales tax rates from 2020 and beyond
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