The state of Kansas released September revenue numbers, and to no surprise, targeted income for the states fund fell far short of expectations. The state of Kansas, which has had a disappointing pattern of economic policy fell short again in September, down nearly $45M, bringing the loss for the quarter to $60M dollars.
Kansas collected nearly $45 million less in taxes in September than expected, providing a major blow to state finances and scrambling the budget.
State government now faces a shortfall greater than $60 million, just three months — or one quarter — into the fiscal year. Barring a dramatic turnaround, lawmakers and Gov. Sam Brownback will confront a bleak financial situation when the Legislature returns in January.
Governor Brownback had promised the state of Kansas that his tax plan would be an “injection of adrenaline” that would wake up the Kansas economy. Heading into the election of 2016, however, Kansas economy is nearly a flatline with job creation flat and revenues showing that people aren’t spending into the state.