After Raising Taxes, Kansas’s Economy Has Boomed
Former Kansas governor Sam Brownback ushered in fiscal devastation by drastically slashing tax rates, but the Midwestern state is finally back on its feet, according to CNBC.
Though a bipartisan supermajority overrode Brownback’s veto and repealed the governor’s plan in 2017, Kansas continued with a $351 million revenue shortfall in 2018 and only realized the repeal’s full effects this year.
The state’s current governor, Democrat Laura Kelly, told CNBC: “We are returning to our roots as a very progressive, thoughtful, forward-looking state.”
“Kansas for years now has been at the low end of all economic metrics,” she added. “That’s changing.”
Republican state lawmakers have argued that Brownback’s plan did not fail due to his extreme tax cuts but because the state failed to rein in spending, and some are lobbying to have a portion of the cuts restored.
Kelly told CNBC she agrees that Kansas is not out of the woods just yet and promised her administration is looking to fix a tax structure that is “way out of whack right now.”