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Archive for Wednesday, April 30, 2014

Kansas revenues off $92M in April

April 30, 2014

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— Kansas officials are blaming changes in federal tax policies for lower-than-expected state revenue collections in April.

The Department of Revenue reported Wednesday the state's April collections were $92 million less than analysts had forecast less than two weeks ago. More than $89 million of the shortfall was in individual income taxes related to federal changes in calculating capital gains on investments and other income.

Revenue Secretary Nick Jordan blamed President Barack Obama's administration and changes made to the federal tax code that expired on Jan. 1, 2013.

Jordan says other states have seen similar declines in revenue collections, including Michigan, which saw revenues drop 42.6 percent.

The April totals were announced as legislators returned to Topeka to finish work on the state budget and other issues.

Comments

Bob Forer 8 months ago

"Revenue Secretary Nick Jordan blamed President Barack Obama's administration and changes made to the federal tax code that expired on Jan. 1, 2013."

Malarky. The analysts who made the forecast two weeks ago knew, or should or known, about all tax laws in effect at the time. Sounds like the forecasters misforecasted.

Typical repubican game plan: If things don't go as announced, blame Obama, or anybody but yourself.

Stuart Sweeney 8 months ago

Could Mr. Jordan please explain what changes have produced the lower tax revenues?

Julius Nolan 8 months ago

He's waiting for Koch memo so he can explain how Obama is responsible.

Mark Pickerel 8 months ago

I love how they argue for their own incompetence by saying effects of tax policy that has been in place for a year were not anticipated.

Dorothy Hoyt-Reed 8 months ago

They don't have the guts to take the blame for what they have done. These tax cuts were suppose to bring businesses rolling into the state, but it hasn't happened. At least have the dignity to admit your experiment was wrong. People need to remember this in November.

Larry Sturm 8 months ago

We don't have to wonder why the revenues are down all we have to do is look at our Koch brothers and ALEC government.

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