Brownback Hit With Even Worse Financial News Days After Being Re-Elected
Source: TPM
Financial projections released late Monday paint a grim picture for Kansas's budget in the wake of Gov. Sam Brownback's (R) decision to sign massive income tax cuts into law.
The estimates showed that the state is on track to collect $1 billion less in revenue next year and in 2016 than had previously been projected, according to the Kansas City Star.
The estimates also said the state will use up $380 million in reserves and still have to cut another $280 million for fiscal year 2015 to balance the state's current budget. In addition, in 2016, revenues are expected to be $436 million short of expenditures according to the forecast.
Altogether it was the latest bit of bleak news for Kansas and Brownback, who won re-election a week ago, defeating House Minority Leader Paul Davis (D).
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http://talkingpointsmemo.com/livewire/sam-brownback-budget-forecast-2015-2016
Kansas revenues will fall $1 billion short of 2015 and 2016 expenses, fiscal experts say
http://www.kansascity.com/news/government-politics/article3729756.html