Governor Sam Brownback is touting the tax-cutting legislation he signed into law earlier this year. He talked about the plan during a speech at the University of Kansas last (MON) night. The legislation will cut personal income tax rates and completely eliminate income taxes for nearly 200,000 businesses. Brownback argued the plan will help boost job growth and attract people and businesses to the state.
Opponents of the plan argue that the legislation will create big budget deficits, requiring cuts to state services like education. The non-partisan Legislative Research Department projects the tax cut will create more than $2 billion in budget deficits in coming years. Brownback is confident the tax cut will create more than 20,00 jobs and state income tax collections will recover -- after a short decline. But he told the crowd the state can handle a drop in revenues due to the tax cut or an economic slowdown.
That’s Governor Sam Brownback talking about taxes and economic growth. He delivered his remarks last (MON) night at the University of Kansas.