$1.23 Billion Tax Cut Bill Passed To Kansas Lawmakers, Restructures Brackets – Check It Now!

Kansas lawmakers passed a $1.23 billion tax cut bill aimed at restructuring income tax brackets.

Kansas Lawmakers Pass $1.23 Billion Tax Cut Bill Amid Political Discord

Kansas lawmakers swiftly passed a significant tax cut bill, worth $1.23 billion over three years, following a deadlock with Governor Laura Kelly. The bipartisan measure received support in a special session and will soon be signed into law by Kelly. However, some legislators expressed frustration that the bill didn’t do enough particularly criticizing its limited impact on property taxes which they felt fell short of earlier proposals, according to the report of Audacy.

The negotiations highlighted the state’s delicate political balance. Initially, Republican leaders aimed for even deeper cuts fueled by a surplus, but were cautioned by Kelly and others about potential future budget risks. Senator Caryn Tyson and a key Republican on tax issues voiced mixed feelings acknowledging the bill’s progress while asserting it could have provided greater benefits to taxpayers.

READ ALSO: Biden Administration’s Clean Energy Tax Credits Set To Boost Job Creation And Climate Action

(photo: Kansas Reflector)

Kansas Tax Cut Bill Restructures Brackets, Enhances Exemptions and Credits

The bill delivers significant income tax relief by restructuring brackets and slightly lowering the highest rate. It also enhances exemptions for low-income families and offers increased tax credits for childcare costs.

Additionally, the legislation exempts retirees’ Social Security benefits from state taxes once their income exceeds $75,000 aiming to support elderly residents and boost economic growth.

Governor Kelly, while recognizing the bill’s flaws emphasized its role in providing substantial tax relief to Kansas residents. Her support reflects a compromise to satisfy both fiscal conservatives and advocates for responsible budget management. As Kansas prepares for potential electoral impacts debates continue over fiscal responsibility and public welfare.

READ ALSO: Beware Of Food Stamp Fraud: Protect Your Benefits With These Simple Tips