Post by Logan on Mar 29, 2016 0:17:32 GMT -6
Overly optimistic revenue estimates prompt Gov. Brownback to seek process changes
Kansas’ monthly revenue estimates — at one point roughly split between overestimating and underestimating money flowing into state coffers — turned too rosy during the past year.
Gov. Sam Brownback’s administration said Monday it is seeking improvements to the revenue forecasting system and consulting with experts in other states to identify potential changes after Kansas missed revenue targets 11 of the past 12 months and long-range forecasts have been downgraded during the past two years.
Administration critics contend the state’s tax policy, not the estimating process, is at fault as revenues continue to tumble.
The state will release the March revenue report on Friday, and if trends hold, the amount of revenue taken in will fall below estimates. The monthly reports, ammunition in a never-ending war over the tax policy, didn’t used to be as frequently dour, a review of the estimates shows.
Read more: cjonline.com/news/2016-03-28/overly-optimistic-revenue-estimates-prompt-gov-brownback-seek-process-changes
Kansas’ monthly revenue estimates — at one point roughly split between overestimating and underestimating money flowing into state coffers — turned too rosy during the past year.
Gov. Sam Brownback’s administration said Monday it is seeking improvements to the revenue forecasting system and consulting with experts in other states to identify potential changes after Kansas missed revenue targets 11 of the past 12 months and long-range forecasts have been downgraded during the past two years.
Administration critics contend the state’s tax policy, not the estimating process, is at fault as revenues continue to tumble.
The state will release the March revenue report on Friday, and if trends hold, the amount of revenue taken in will fall below estimates. The monthly reports, ammunition in a never-ending war over the tax policy, didn’t used to be as frequently dour, a review of the estimates shows.
Read more: cjonline.com/news/2016-03-28/overly-optimistic-revenue-estimates-prompt-gov-brownback-seek-process-changes