Kansas Faces $349M Budget Shortfall In Latest Forecast
Kansas faces $349M budget shortfall in latest forecast
TOPEKA — Kansas faces a $349 million shortfall in its current budget and even bigger gaps in the near future after officials issued a new, more pessimistic fiscal forecast for the state.
The forecasters slashed the state’s previous projections for tax collections through June 2017 by 5.9 percent, or $355 million. They also issued the first projections for the two fiscal years beginning in July 2017 and kept their estimates for revenue growth conservative.
Legislative researchers projected budget shortfalls totaling $1.1 billion through June 2019, based on current legal requirements for spending. The state’s annual spending is $15.5 billion.
National debate over taxes
The state’s fiscal …