Responding to today’s news that March tax receipts in Kansas were $11.2 million below expectations, House Democratic Leader Tom Burroughs said the state “continues to bleed revenue.”
“Gov. Brownback’s economic experiment was supposed to be ‘a shot of adrenaline to the Kansas economy,’ but after three years it has proven to be more like an ax wound,” Burroughs, D-33rd Dist., said in a news release.
Burroughs was responding to an announcement today by the Kansas Department of Revenue that March tax receipts ended $11.2 million below expectations.
“Kansas continues to bleed revenue as is evident by this month’s numbers,” Burroughs said. “How we resolve this issue remains unknown as the legislative session is nearly over and we haven’t seen a comprehensive balanced budget.
“This is unacceptable, and the people of Kansas deserve better,” Burroughs said.
The Kansas Department of Revenue reported that while individual income tax receipts beat expectations by $8.7 million, it was not enough to offset shortfalls in oil and gas severance, corporate income and sales tax receipts.
Corporate tax receipts were $8.2 million, or 18 percent, below expectations, while sales and use tax receipts were $7.8 million short, and oil and gas tax severance was $5 million below what was expected, the KDOR stated.
“While the monthly receipts show a temporary shortfall, sales and use tax receipts for the fiscal year to date are $40 million more than during first nine months of the prior fiscal year,” said Kansas Revenue Secretary Nick Jordan. “I’m pleased to see individual income tax receipts $8.7 million above what we expected, driven in part by strong employment growth.”