Kansas House Tax Cut Plan Cheaper Than Thought

By: AP (Posted by Melissa Brunner)
By: AP (Posted by Melissa Brunner)

TOPEKA, Kan. (AP) _ New estimates show that a sweeping tax-cut
bill approved by the Kansas House would have a smaller impact on
state revenues than earlier projected.

Documents prepared by legislative analysts and obtained Thursday by The Associated Press put the cost of cutting income and sales
taxes at nearly $334 million in the first year.

Projected over five years, the cost grows to nearly $2.2 billion. The figure includes nearly $776 million from cuts in income taxes, and $1.42 billion from abolishing the sales tax on food.

The documents also show that a separate tax-cut plan endorsed by a Senate committee would cost the state about $105 million in the first year. That plan is a modified version of proposals from Gov.
Sam Brownback.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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