Be wary of ‘windfall’ politics

By

Opinion

May 25, 2018 - 11:00 PM

Insight Kansas

Kansans should thank those courageous state representatives, a coalition of Republicans and Democrats, who in the last hour of the last day of the recent legislative session withstood the tempting siren song of “return the windfall.” Even so every candidate seeking state office this year will face a headwind of windfall politics.

What exactly is this “windfall,” you ask?

Generally, when federal and state income taxes are connected, as they are in Kansas, a tax cut at the federal level could result in a revenue gain at the state level. Last February the Kansas Department of Revenue offered “rough approximations” that the bump in Kansas could be as much as $138 million in the upcoming fiscal year. That figure represents at most a three-to-four percent increase in state income tax revenues or less than two percent of state general fund revenues.

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