Kansas Revenue Falls $100 Million Short
This June, Kansas revenue collections fell approximately $33 million short of estimates, reports The Hays Daily News.
June marks the conclusion of a financially disastrous fiscal year for the Sunflower State. Over the past year, Kansas took in more than $100 million less than anticipated. Revenue sources have slumped—and, in some cases, plunged—during the past year.
Last year it was predicted that Kansas would take in $5.68 billion by June 30 of 2016. Instead, the state took in only $5.57 billion—a shortfall of almost two percent for the year. Compared to the previous fiscal year, Kansas collected 15 percent less in corporate income taxes. Individual income tax was down $28 million. Critics contend that Gov. Sam Brownback’s tax policy has harmed the state’s funding abilities.