The Buzz

May 30, 2014

Kansas tax revenues plunge again

The state said revenues fell $217 million below estimates in May, the second month in a row they came up short of expectations. The latest decline leaves the state about $310 million short for the current fiscal year, which ends June 30. Gov. Sam Brownback’s administration attributes the falling revenues to taxpayers cashing in investments early before capital gains taxes increased in 2013. Critics have blamed Brownback’s income tax cuts.

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