Opinion Columns & Blogs

February tax collections are a relief

It was encouraging that Kansas tax collections in February exceeded the estimates by $37 million. Individual and corporate income taxes were more than expected, as were retail sales taxes and oil and gas severance taxes. That offers hope that the state’s economy may be starting to improve. It’s important to recall that the state significantly lowered its estimates last November – so the collections are clearing a low bar. Still, the extra revenue is a relief and means this year’s budget shortfall is a little less large – about $280 million. And with only four months left in this fiscal year, the state needs all the good news it can get. – Phillip Brownlee