Governor Sam Brownback touted the state’s fiscal health during a press briefing at the Statehouse. Brownback announced that Kansas will pay off bonds early for a variety of projects. He also pointed to state estimates showing Kansas ended the fiscal year on June 30th with more than $460 million in reserves.
He says the state’s finances are now solid enough to handle a large income tax cut lawmakers approved last session.
Supporters of the tax cut say it will help spur economic growth. Critics of the multi-year, billion-dollar tax cut say it could cause budget problems in the future. Anthony Hensley, of Topeka, is the top Democrat in the Senate. He told the Topeka Capital-Journal that a temporary, 1 percent sales tax increase helped the state erase a budget shortfall and shore up its finances.