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State Panel to Update Kansas Revenue Forecast

The Kansas Statehouse. (Photo by Stephen Koranda)

A group of state officials and university economists will meet Thursday to update the forecast for how much the state will collect in taxes.
The numbers provided by the Consensus Revenue Estimating Group give Kansas lawmakers a better idea of the state’s finances as they work to write a new budget plan for the coming fiscal year. The group might change the economic projections it made earlier.  If that happens, the budget deficit facing lawmakers will either grow or shrink. 

The panel has ratcheted down revenue projections multiple times in the last couple years, after the state put tax cuts in place. 

After the last downward revision in November, the state has pretty consistently exceeded the monthly forecasts.  This could be an indication that the group now has a better handle on the state’s revenue picture. 

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