inflation Archives - Kansas Policy Institute

The 2024 Responsible Kansas Budget 0
- Tax & Spending
- January 3, 2023
A flourishing economy and thriving people are only possible if a state government has responsible, balanced budgets. Transparency, performance-based budgeting, and tax-and-expenditure limits rein in government spending to avoid deficits. This shores up state budgets in times of revenue volatility. The question has always been how to achieve these goals and the lower taxes they
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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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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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Combating inflation at the state level 0
- Tax & Spending
- August 29, 2022
Last Friday, the Dow Jones Industrial Average plummeted by 1,000 points after Federal Reserve Chair Jerome Powell indicated that interest rates would remain high to fight inflation. Kansans don’t need to be told that inflation is rampant as prices this July were 8.6% higher than what they were last year. Much of the broader causes
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Kansas families are losing $8,700 annually from inflation 0
- Tax & Spending
- July 25, 2022
Trillions in government spending and a supply chain crisis stemming from factors like energy production restrictions and businesses closed during COVID-19 lockdowns are costing Kansas families $8,700 annually in higher costs for food, energy, transportation, and housing due to inflation. The estimated annual cost comes from the Congressional Joint Economic Committee and estimates inflation rates
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Think Long-Term Relief with FY 2022 Tax Revenue 0
- Tax & Spending
- July 6, 2022
In June of 2022, the state of Kansas’s total tax revenue was $856.8 million, which was 2.2% greater than the estimates for this month. This includes $303.6 million in sales taxes and $523.8 million in income taxes. The revenue collected for June of this year was 7.7% higher than what it was in June of
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