Trump's Tax Plan Sound Familiar? Kansas Enacted a Similar One -- and Its Economy Tanked. [View all]

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Trump's Tax Plan Sound Familiar? Kansas Enacted a Similar One -- and Its Economy Tanked.
BY TRIBUNE NEWS SERVICE | NOVEMBER 17, 2016 By Kelsey Ryan

Slow growth. Tax cuts. Sound familiar?

President-elect Donald Trump's proposed tax plan for the nation is similar to Gov. Sam Brownback's self-proclaimed "real-live experiment" tax plan enacted in 2012.

Both plans include a rate cut for individual income tax and cuts for business income, analysts say.

Kansas faces a nearly $350 million budget gap for the current fiscal year, which runs through June. The budget gap has forced the state to make cuts to most state agencies, the state pension system, highway projects and universities.

In September, the Federal Reserve Bank of Philadelphia ranked Kansas 50th in the nation for employment growth, manufacturing hours worked, unemployment rate and wage growth.


http://www.governing.com/topics/finance/tns-trump-tax-kansas.html