Kansas will have a year to learn whether huge tax cuts will produce equally huge economic growth.
The Legislature passed a budget Sunday and went home, leaving what has been labeled a “nuclear option” tax cut bill in Gov. Sam Brownback’s hands. The governor said last week he would sign it if lawmakers didn’t pass a milder tax reform version that he also supported. They didn’t. So the bill that Legislative Research estimates will cause a huge deficit by 2018 is due to be signed and go into effect.
The measure would cut individual income tax rates and eliminate income taxes for 191,000 businesses. In addition, the state income tax rate is scheduled to drop from the current 6.3 percent to 5.7 percent.