More transfers from T-WORKS

Kansas Legislators are hoping to wrap up the 2016 session later today (maybe much later).  And while we’ll produce a more detailed report after they’ve adjourned, I wanted you to know the status in Topeka.

I wish I could report more encouraging news, but it appears almost certain that the shortfall in the state budget will be filled with more transfers from KDOT, as the Governor suggested last week. It also appears, although we’ll know definitely later today, that the proposed delay of a $100 million payment in the state’s pension fund will be delayed so as to help fill the shortfall, as well. Additionally, the Governor would be authorized to make further budget cuts, but K-12 funding would be shielded from those cuts.

Key to wrapping up business this weekend was action taken yesterday. The House overwhelmingly rejected a measure that would have “closed the LLC loophole” on a vote of 45-74. The specific measure was seen by many as a tax on small business and others as an inadequate response to addressing what they see as problems in the 2012 tax bill.

Have a good Saturday!

Michael Johnston
Chief Executive Officer
Economic Lifelines

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