Kansas to borrow $900 million, may delay payments to school districts
Source: The Wichita Eagle
Kansas will have to borrow $900 million to get through next fiscal year and may have to delay payments to school districts to get through the current year.
It also will take more money from the highway fund and could tap a Medicaid fee fund.
The state faces a $45 million budget hole for the current fiscal year, which ends June 30. That could grow if June tax revenues fall short, budget director Shawn Sullivan told the State Finance Council on Wednesday.
Gov. Sam Brownback blamed the shortfall on the global economy, though a top Democrat pointed to the governors 2012 tax cuts as the cause.
Read more here: http://www.kansas.com/news/politics-government/article85257002.html#storylink=cpy
Read more: http://www.kansas.com/news/politics-government/article85257002.html
Kansas's experiment in prosperity through massive tax cuts to the wealthy continues...
msongs
(67,405 posts)dem in texas
(2,674 posts)The voters drank the Republican Kool-Aid and they are now paying the price.
tanyev
(42,553 posts)Javaman
(62,528 posts)SmittynMo
(3,544 posts)This is what you get. Surprise, surprise!!! (Gomer Pyle voice)
Solly Mack
(90,764 posts)the train wreck continues
bdwker
(435 posts)sarcasmo
(23,968 posts)Thanks for the laugh Sam.