tax surplus Archives - Kansas Policy Institute

Saving Billions in Kansas Government Budgets 0
- Tax & Spending
- July 18, 2022
Mega-subsidies, property tax increases, and uncompetitive economics, oh my! From the local to the state level, legislators have the opportunity everywhere from government budgets to the next legislative session to make Kansas a more affordable and economically competitive state for families. Local Budgeting Cities, counties, school districts, and various other government budgets across Kansas are
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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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Thinking Responsibly About the Kansas Budget 0
- Tax & Spending
- March 10, 2022
The state of Kansas is on track to turn an estimated $3 billion tax surplus into a multi-million dollar deficit by FY 2027. A $2 billion mega-subsidy for a “mystery company” wasn’t part of Governor Laura Kelly’s original $3.2 billion in tax and spending proposals this year. Something is going to have to give from
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Governor Kelly Proposes $2.3 Billion in Budget Changes 0
- Tax & Spending
- January 18, 2022
Kansas Governor Laura Kelly’s Proposed Budgets for FY 2022 and FY 2023 plan to set new spending records. The Governor’s Budget Proposal released the day after her 2022 State of the State speech contains a proposal to increase All Fund Spending for FY 2022 to a total of just under $23 billion. This is $1.34
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Don’t Expand Government Through November Tax Revenue Surplus 0
- Tax & Spending
- December 1, 2021
In November 2021, the state of Kansas took in total tax revenue of $626.8 million, which was 3.1% greater than the estimates for this month. This includes $285.4 million in sales taxes and $302.9 million in income taxes. The revenue collected for November of this year was 12.6% higher than what it was in November
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Don’t Let High Inflation Hurt Taxpayers Through Bracket Creep 0
- Tax & Spending
- November 15, 2021
Kansans are currently feeling the effect of high inflation everywhere: the gas pump, the grocery store, favorite restaurants, etc. But one place you may not think about inflation is when it comes to tax brackets. Indeed, the phenomenon of bracket creep due to Kansas’ income tax policies may lead to higher taxes on top of
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