Governor Laura Kelly has announced the updated consensus revenue estimates on Friday. Kelly says the consensus revenue estimates could be seen as positive news, but in reality, they underscore the seriousness of the financial predicament ahead. Kelly says the budget tactics used by the Republican led Legislature, actually spend more than the state takes in by nearly $800 million a year. She says at this rate the state will face a historically large budget deficit, rivaling the years Sam Brownback was in office. Kelly goes on to say that this comes at the same time the Legislature has guaranteed large tax cuts for wealthy individuals and corporations, instead of the property tax relief they promised Kansas families. She says that Kansans need to demand their Legislators restore fiscal sanity and fairness when they return to session in January.
The Consensus Revenue Estimating Group is composed of representatives from the Division of the Budget, Department of Revenue, and Legislative Research Department, and one Consulting Economist each from the University of Kansas, Kansas State University, and Wichita State University. The group meets twice a year, once in the spring and once in the fall.
