Kansas revenue numbers are in—Brownback economy downgraded from 'bad' to 'nightmare'
Revenue numbers for July through September, the first three months of fiscal year 2015, suggest Kansas’ revenue gap is permanent, not temporary. The state anticipated $578 million in personal income tax collections over the summer, but it took in just $524 million, a miss of more than 10 percent. That was nationally atypical; according to the Rockefeller Institute of Government, 14 states have published projected and actual monthly personal income tax receipts through September, and the other 13 all came within 5 percent of expectations.
Kansas’ wide miss was probably a result of wading into uncharted territory with its tax reforms. In addition to cutting income tax rates, Kansas made itself the only state with a general personal-income tax that exempts “pass-through income” from tax.
Kansas is a royal mess.........
http://www.dailykos.com/story/2014/10/22/1338450/-Kansas-revenue-numbers-are-in-Gov-Sam-Brownback-economy-changed-from-bad-to-nightmare
