revenue surplus Archives - Kansas Policy Institute

Big revenues don’t excuse big government spending 0
- Tax & Spending
- October 4, 2022
It seems fitting that the spookiest month of the year is brought in with something scary: the allure of big government spending! However, last month, Kansas exceeded its tax revenue expectations by $234.9 million. As this year’s election grows closer, big promises about what to do with the ever-growing stack of state cash keep coming
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Kelly administration has $1.2 billion in unspent ARPA COVID-relief funds 0
- Tax & Spending
- September 12, 2022
While Kansas families and businesses are still struggling to recover from government-imposed shutdowns, COVID-19 restrictions, and inflation, the Kelly administration is sitting on $1.2 billion of unspent ARPA money. Federal APRA money has specific limits on its usage, but in general, it’s used to make up for financial losses during the COVID-19 pandemic or one-time
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Kansas Income Taxes $232 Million Over May Estimates 0
- Tax & Spending
- June 2, 2022
In May 2022, the state of Kansas took in a total tax revenue of $910 million, which was 35.7% greater than the estimates for this month. These revenues include $305 million in sales taxes and $571 million in income taxes. The revenue collected for May of this year was 13.6% less than what it was
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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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High March 2022 Kansas Tax Collection: Time for Tax Relief 0
- Tax & Spending
- April 4, 2022
In March 2022, the state of Kansas took in a total tax revenue of $679.6 million, which was a whopping 13.4% greater than the estimates for this month. This includes a sales tax collection that was 7.0% higher than expected and an income tax collection that was 16.9% higher than expected. The revenue collected for
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Ideas for ARPA and Kansas Revenue Cash Pile 0
- Tax & Spending
- February 9, 2022
Kansas sits on a massive influx in taxpayer cash. By June, the state’s ending balance is expected to hold a $3 billion surplus as monthly tax revenues continually exceed expectations. On top of this, the state also has its second round of federal ARPA relief funds hitting coffers in May. Kansas isn’t unique in this
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