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Record levels of debt covering income tax revenue impact

The current administration is hiding the disastrous results of its tax policy by issuing record levels of debt (which will need to be paid). This does not bode well for the short-term or long-term future of school funding in Kansas. Do your friends understand this? “Six lines buried deep in a 700-page appropriation bill last spring gave the Kansas Department of Transportation unlimited authority to issue debt, and in early December, without public disclosure, the agency used that authority to issue $400 million in highway bonds. “State law requires those debt proceeds to be used for improving state...
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“Lost Decade” not accurate basis for tax changes

We focus on education policy, but right now it is inextricably linked with tax policy. We’ve heard reference recently to the “lost decade” argument and found this explanation helpful. “Clearly, the actual record of Kansas’ economy between 2000 and 2010 shows the inaccuracy of calling it a “lost decade.” Two periods of nationwide recession over a relatively short time – the first of which particularly hurt Wichita and the second of which was the worst economic downturn in decades – could only skew job growth downward. And, still, some places in Kansas actually gained jobs during those tough...
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State using KDOT loans to hide inability to pay bills

We are among those who believe that the lifting of the cap on KDOT bonding is (1) a way to move money we don’t actually have into the general fund to cover state expenses until after the 2016 elections, and (2) bad economic policy for a state. “Last week, Gov. Sam Brownback indicated that he anticipates no budget issues in the coming legislative session, despite months of shortfalls in projected tax revenues. “‘Those puzzling comments make sense now,’ [Rep. Melissa] Rooker said. ‘If you have that bonding authority, that’s the answer for how you will skate through this...
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