Wednesday, March 13, 2013
The Kansas Association of Realtors is backing a compromise proposal to phase out all tax deductions as the state Senate prepares to debate a bill to further reduce personal income tax rates.
The group was lobbying for the compromise ahead of Wednesday afternoon's debate. It's an alternative to Republican Gov. Sam Brownback's proposal to eliminate the income tax deduction for interest on home mortgages.
Brownback wants to eliminate the deduction to help stabilize the budget as the state further reduces individual income tax rates during the next four years. Those reductions would follow up on massive income tax cuts enacted last year.
Realtors lobbyist Luke Bell said the association is opposing efforts to save the full mortgage interest deduction because it believes such an effort is no longer reasonable.