photo by: Kansas Governor's Office

Gov. Laura Kelly ceremonially signs the bipartisan tax cuts package that was passed in June, on Wednesday, Aug. 28, 2024, in Olathe. At left is state Sen. Robert Olson, R-Olathe.

Gov. Laura Kelly on Wednesday in Olathe ceremonially signed the bipartisan tax cuts package that became law earlier this summer.

“Kansans can expect to see meaningful tax cuts and can rest assured they will not threaten our ability to continue fully funding essential services,” Kelly said. “This bipartisan bill delivers the tax relief Kansans needed, deserved, and that our state could afford.”

Senate Bill 1, passed with bipartisan support and signed by Kelly in June, provides Kansans with nearly $2 billion in tax cuts over the next five years. The bill eliminates state taxes on Social Security income, saving Kansas retirees an expected $152 million in the first year, according to the governor’s office.

The bill also reduces property taxes by increasing the residential property tax exemption to $75,000. Residential property owners will save more than $236 million over five years. Additionally, the bill reduces income taxes while increasing the standard deduction and the Child and Dependent Care Tax Credit.

State Sen. Robert Olson, R-Olathe, appeared with Kelly Wednesday at the signing. Olson, who is not seeking reelection this year, said in June that the compromise bill was not ideal but was a move in the right direction.

“By responsibly reducing property and income taxes, we’re implementing comprehensive tax cuts that all Kansans will feel the impact of,” Olson said Wednesday. “I’m proud to have worked with Governor Kelly and lawmakers of both parties to get this bipartisan package across the finish line.”

The bill cleared the Legislature with huge bipartisan majorities during a one-day special session called by Kelly after she vetoed three previous tax-cutting plans and lawmakers ended their regular annual session May 1. The GOP leaders who negotiated with her office warned colleagues that they risked another veto if they made any changes — and they didn’t.