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The Leavenworth Times - Leavenworth, KS
  • Letter: State revenues are higher than was expected

  • A reader has accused me of being "disingenuous at best" in my newsletter concerning state revenues.
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  • To the editor:
    A reader has accused me of being "disingenuous at best" in my newsletter concerning state revenues.
    What I had said is quoted here: "The Kansas State Treasurer, Ron Estes, discussed revenues with me and he had some good news. State General Fund (SGF) receipts from the beginning of Fiscal Year (FY) 2013, July 1, 2012, to January 2013 have exceeded estimates... Tax sources that exceeded the estimate by more than $1 million were individual income ($107.2 million or 6.3 percent), corporate income ($6.8 million or 3.9 percent), insurance premiums ($5.1 million or 9.3 percent), motor carriers ($3.5 million or 22.3 percent), and liquor enforcement ($1.3 million or 3.6 percent)."
    This good news is despite problems the federal government had in getting out tax refunds. That delayed some consumer spending – and the sales taxes that will entail – into the next period. Those tax refunds are now coming in and can be expected to fuel increased sales tax revenue in the current period.
    Several pieces of legislation being considered will, if enacted, raise revenues. These include continuing the sales tax at its current level, eliminating or greatly reducing income tax deductions, increasing severance revenues from oil and gas production, and several others. I am not necessarily in favor of any of these policies but there is a lot of work being done to increase revenues – as well as to cut spending. There is also an increase in economic activity which is helping revenue generation. Be wary of any projections - actual results count.
    While there is some dispute concerning the anticipated results of various policies, it is indisputable that as of now revenues are indeed outpacing estimates. This is good news for most Kansans – with the exception of some doom-sayers.

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