Kansas officials today revised projected revenues downward $228.6 million for fiscal years 2016 and 2017.
Democrats responded that the figures were more evidence of the Republicans’ “failed policies.”
According to a memo from the Kansas Legislative Research Department and Kansas Division of the Budget, the estimate was decreased by $93.9 million for fiscal year 2016, about 1.5 percent below the November estimate.
The estimate for total taxes was decreased by $177.1 million, while the estimate for other revenues was increased by $83.2 million. The overall revised estimate of $6.072 billion is a 2.4 percent increase above final fiscal year 2015 receipts, according to the memo.
The revised estimate for fiscal year 2017 of $6.15 billion was decreased by $134.7 million below the November estimate, the memo stated. The estimate for total taxes was decreased by $170.7 million, while the estimate for other revenues was increased by $36 million. The revised forecast for fiscal year 2017 is a 1.3 percent increase above the newly revised fiscal year 2016 figure.
House Minority Leader Tom Burroughs, D-33rd Dist., released this statement about the declining Kansas revenues:
“The Kansas economy has deteriorated under the leadership of Gov. Brownback and conservative legislators. The revised revenue numbers are further evidence of the Republican Party’s failed policies.
“Democrats stand ready to chart a new path forward,” Rep. Burroughs said. “We support responsible tax policies that will create a sustainable source of revenue for the state. Doing so would allow us to prudently invest in programs and services like education and infrastructure, which help to create a better Kansas for all our citizens.”
Today’s consensus revenue estimates are online at http://budget.ks.gov/files/FY2017/CRE_Short_Memo_April2016.pdf.