Kansas lawmakers in June approved the largest revenue increase in state history thinking they'd closed a $400 million hole created by income-tax cuts Republican Governor Sam Brownback pushed through three years earlier. They hadn't.
The state took in $66 million less than expected in the three months ending Sept. 30, and the turmoil is expected to worsen next week when a panel of economists issues its annual projections. They are likely to confirm the need for the Republican-controlled legislature to adjust the budget again because promised benefits from the decrease in taxes still haven't materialized.
"The income-tax cuts passed in 2012 and '13 were way too steep and way too quick," said State Sen. Jeff Longbine, a Republican from Emporia. "The revenue continues to decline and we have to do something."
The state's budget drama encapsulates a broader ideological debate over the influence that tax cuts have on economic performance. Republican presidential candidates have each endorsed federal tax reductions in the belief that they will spur investment. In Kansas, the idea is being tested as residents await the promised jolt.
http://www.chicagotribune.com/news/...2d-11e5-bfb6-65300a5ff562-20151029-story.html"This is absolutely a cautionary tale, because it's basically cutting revenue without figuring out how to cut expenditures," said Norton Francis, senior research associate at the Urban-Brookings Tax Policy Center. "At the federal level, it's different because they can deficit-finance, but you can't be a deficit hawk and a tax cutter at the same time."
Basically you just can't wish away your expenses. Still don't get how Kansas voters voted back in Brown for a second term. Party ID can't be that strong that they would reward incompetence like that.