Wednesday, December 5, 2012
Gov. Sam Brownback says Kansas lawmakers should take another look at his suggestions to pay for massive income tax cuts he signed into law earlier this year.
The Republican governor told hundreds of people at a forum in Overland Park on Tuesday that he won't consider restoring tax rates to previous levels.
In January, the state will reduce individual income tax rates, drop the top tax rate to 4.9 percent from 6.45 percent and increase the standard deductions claimed by married couples and heads-of-household. The state also will exempt the owners of 191,000 partnerships, sole proprietorships and other businesses from taxes.
Legislative researchers estimate the cuts will be worth $4.5 billion over the next six years and create collective budget shortfalls approaching $2.5 billion during the same period.