More on the problems caused by the massive tax cuts promoted in 2012 by Kansas Gov. Brownback
“After the cuts became law, it was undisputed that Kansas’s revenue collections would fall. But some supply-side analysts, like economist Arthur Laffer, argued that increased economic growth would deliver more revenue that would help cushion this impact.
“Yet it’s now clear that the revenue shortfalls are much worse than expected. “State general fund revenue is down over $700 million from last year,” Duane Goossen, a former state budget director, told me. “That’s a bigger drop than the state had in the whole three years of the recession,” he said — and it’s a huge chunk of the state’s $6 billion budget. Goossen added that the Kansas’s surplus, which had been replenished since the recession, “is now being spent at an alarming, amazing rate.
“The declining revenues have necessitated extensive cuts in state education funding, according to the Center on Budget and Policy Priorities. Moody’s cut of the state’s bond rating this May was another embarrassment. And the economic benefits Brownback promised haven’t materialized either.”