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Veto session begins; budget hole increases

from Dodie Wellshear, KAFP Government Relations Consultant

The Legislature returned for the Veto Session on Wednesday, April 29. Legislators returned to what is an all-too-familiar refrain in recent times: revenue estimates are again falling short of predictions.

Essentially, the problem is summed up by the fact that about $1 billion has been removed from the state’s coffers, largely as a result of the corporate income tax cuts that began in 2013, through FY 2016. At the same time, other areas, such severance, oil and gas taxes have been under-performing. And, Medicaid caseloads, education costs, and replenishing KPERS have increased the financial demand.

As budget and tax committees met this past week, the news delivered from budget and revenue experts was that to fund the budget they’ve tentatively agreed to, they need an additional $800 million for FY 16 and FY 17. more

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