Brownback: Repealing Tax Cuts Will Drag State's Economy
Kansas Gov. Sam Brownback says a law repealing his signature tax cuts will create a drag on the state’s economy.
Brownback vetoed a bill that raises tax rates and repeals an exemption for certain types of business income. The Legislature voted to override his veto Tuesday night.
Lawmakers who voted for the repeal say it will put Kansas back on sound financial footing. Brownback disagrees.
“Now you’re going to see small businesses taxed at 5.7 percent income tax rates, and you’re going to see the creation and the number of them go down substantially and you’re going to see the migration from other, neighboring states into Kansas go down substantially,” Brownback says.
Despite the governor’s confidence in his policies, Kansas has grappled with budget deficits. The state faced a $900 million shortfall in the fiscal year starting July 1.