Kansas Senate Panel Advances Modest Tax Plan
Kansas lawmakers got back to work on taxes Monday after taking off the weekend. A Senate committee advanced a bill that would repeal an income tax exemption for businesses starting next year. That’s been a part of almost every tax proposal developed by lawmakers this year, but recently other tax plans have stalled.
“That’s one thing that the body can agree on, a majority of the body can agree on," says Republican Caryn Tyson, who chairs the Senate tax committee. "If we can’t get any movement on any other bill, at least we can get movement on that bill."
The proposal would not raise enough funding to fill the state's budget hole.
Democratic Sen. Marci Francisco says it would be better to start the tax retroactively at the start of 2017 to help raise revenue for the state’s budget shortfall. She says the change would also reinstate the ability for businesses to deduct losses.
Making that effective in January of this year could help some farmers and ranchers who have been affected by fires and snowstorms this year.