According to recent data, the “utterly delusional Gov. Sam Brownback” and his experiment in supply-side economics has been a failure.
New numbers from the state of Kansas show that tax revenue came in $11.2 million below expectations in March, which is just the latest example in a string of lower-than-expected tax receipts.
Lawmakers must fill a $344 million revenue shortfall by June, and Brownback has moved to plug Kansas’ fiscal hole by slashing education funding, gutting the state’s pension fund, and cutting infrastructure. Additionally, the governor has proposed new sales taxes, which disproportionately impact the poor, in order to proceed full steam ahead with his income tax cuts for corporations and the wealthy.
While personal income tax revenue was above expectations last month, the Topeka Capital-Journal reports that revenues from oil and gas, sales, and corporate income taxes were well short of what analysts had projected, largely owing to a state economy whose performance is less robust than the Brownback administration had predicted. Given that Brownback aims to eventually eliminate income taxes, the state will depend on those other sources of revenue in the years to come.
“Kansas continues to bleed revenue as is evident by this month’s numbers,” Democratic House Minority Leader Tom Burroughs said in an interview with the Capital-Journal. ”How we resolve this issue remains unknown as the legislative session is nearly over and we haven’t seen a comprehensive balanced budget.”