Kansas’ credit rating on negative watch at S&P

[ScienceRocks]

Kansas’ credit rating on negative watch at S&P

Source: Kansas City Star

Brownback last week presented three options for the Legislature to consider to address the shortfall. One option would sell off future payments from a tobacco settlement lawsuit to bondholders for $158 million. The second would delay a $99 million payment to the state employee pension system until fiscal year 2018, with a requirement that it be repaid with 8 percent interest.

Those two options “provide a bridge through fiscal years 2016 and 2017, until a new two-year budget is developed addressing structural reform and any implications from the upcoming Supreme Court decision on education funding,” said Eileen Hawley, Brownback’s spokeswoman. “The third option reduces state spending and would create a more structurally balanced budget, as indicated by S&P.”

The third option would reduce spending for most state agencies by 3 percent to 5 percent, including for K-12 public schools and state universities. The cut to K-12 spending would be $57 million.

* * *
Democrats and some Republicans have called for rolling back a Brownback-led income tax exemption for 330,000 business owners, part of the Republican governor’s plan to cut state income taxes. Brownback has maintained that the state’s revenue shortfalls are due to a sluggish state economy and not due to tax policy.


Read more: Kansas’ credit rating on negative watch at S&P


My god republican policies suck! Need to start investing in things again.

 

[Remodeling Maidiac]

Spending in Johnson County Kansas is ridiculous. Streets might as well be lined with gold.
Liberal County & biggest population in Kansas btw

 

[gipper]

Kansas’ credit rating on negative watch at S&P

Source: Kansas City Star

Brownback last week presented three options for the Legislature to consider to address the shortfall. One option would sell off future payments from a tobacco settlement lawsuit to bondholders for $158 million. The second would delay a $99 million payment to the state employee pension system until fiscal year 2018, with a requirement that it be repaid with 8 percent interest.

Those two options “provide a bridge through fiscal years 2016 and 2017, until a new two-year budget is developed addressing structural reform and any implications from the upcoming Supreme Court decision on education funding,” said Eileen Hawley, Brownback’s spokeswoman. “The third option reduces state spending and would create a more structurally balanced budget, as indicated by S&P.”

The third option would reduce spending for most state agencies by 3 percent to 5 percent, including for K-12 public schools and state universities. The cut to K-12 spending would be $57 million.

* * *
Democrats and some Republicans have called for rolling back a Brownback-led income tax exemption for 330,000 business owners, part of the Republican governor’s plan to cut state income taxes. Brownback has maintained that the state’s revenue shortfalls are due to a sluggish state economy and not due to tax policy.


Read more: Kansas’ credit rating on negative watch at S&P


My god republican policies suck! Need to start investing in things again.

Mattie I know you are NOT very smart, but you might want to look at the credit ratings of long controlled D states like Illinois or California.

Try to get informed, before posting your usual partisan stupidity.

 

[C_Clayton_Jones]

"Brownback has maintained that the state’s revenue shortfalls are due to a sluggish state economy and not due to tax policy."

Brownback’s a liar and wrong.

And most on the right want to inflict the same failed, wrongheaded conservative fiscal dogma on the Nation as a whole.

 

[gipper]

"Brownback has maintained that the state’s revenue shortfalls are due to a sluggish state economy and not due to tax policy."

Brownback’s a liar and wrong.

And most on the right want to inflict the same failed, wrongheaded conservative fiscal dogma on the Nation as a whole.

Oh brother...another foolish uninformed partisan.

The Rs have controlled the federal House since 2010...and yet, the deficit has exploded....yet you think the Rs want to limit government.

You are easily duped by the establishment Left aren't you?

 

[Remodeling Maidiac]

"Brownback has maintained that the state’s revenue shortfalls are due to a sluggish state economy and not due to tax policy."

Brownback’s a liar and wrong.

And most on the right want to inflict the same failed, wrongheaded conservative fiscal dogma on the Nation as a whole.

Brownback is an idiot but the only part of the state that's "growing" is the Missouri border. And Kansas taxes are high. Their residents come to Missouri for everything from gas to smokes to cars. Both sin & property taxes are outrageous.