Governing

Kansas Economy is Tanking

Exactly a week after Kansas voters re-elected Governor Brownback (R), who has seen the state’s economy go from decent to the worst in the country, more bad news is being delivered to the Sunflower State today that might make voters quickly regret voting for Brownback or staying at home. Kansas revenues will fall $1 billion short of 2015 and 2016 expenses. Kansas is the new California, a state that finds itself more and more in financial troubles. The only difference is now California’s economy is one of the strongest in the nation since Governor Jerry Brown (D) took over the state in 2011.

Governor Sam Brownback massive income tax cuts signed into law is now the reason why Kansas will collect $1 billion less in revenue in 2015 and 2016 than its projected expenses.

The new revenue estimates released Monday revealed that Kansas would burn through about $380 million in reserves and still need to cut $280 million to balance its current budget for fiscal year 2015, which ends next June 30.

The problem continues in 2016 when revenues are projected to run $436 million short of expenditures, the estimates show.

The revenue estimates were developed by a panel of fiscal experts that includes university economists, a legislative policy analyst, a representative from the governor’s budget office and the state revenue department.

Right-wing radio is quick to use Detroit as an example of “Democratic Party’s results at governing” but Kansas is increasingly a great example of what happens to a state economy when it is controlled by far right ideas.

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Categories: Governing

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