The largest tax increase in state history just passed by the 2017 Legislature is projected to exceed long term inflation by $1.45 billion in FY 2019.  If General Fund tax revenue had been increased for inflation since FY 1995, it would be $5.06 billion by FY 2019 but instead is projected to be $6.51 billion by Kansas Legislative Research Department.

SGF tax inflation

Inflation is the Bureau of Labor Statistics’ Consumer Price Index for Midwest Urban Cities calculated on a fiscal year basis, with inflation for FY 2018 and FY 2019 assumed to be at the FY 2017 rate of 1.4 percent.

Share with your social network!