Brownback takes aim at tax plan backed by senate gop leaders _ the topeka capital-journal


The proposal also met a wall of opposition from business owners and professionals, who objected to the elimination of an exemption for limited liability companies and wanted Kansas to continue moving toward no income taxes.

The Senate GOP leadership has set the bill on the fast-track, with the legislation receiving a hearing Monday, just days after its introduction. Rub usd exchange rate The Senate Tax Committee plans to work the bill Tuesday, setting up a potential floor debate later this week.

Senate Bill 147 reinstates taxes on business income from limited liability companies — critics call the current policy a loophole but supporters say it boosts small businesses — and would raise personal income tax rates by three-tenths of a percent in the upper bracket and four-tenths of a percent in the lower bracket.

Business leaders decried the legislation during a hearing in the Senate Tax Committee, though some organizations, such as the Kansas Association of School Boards, spoke in favor of the measure. Historical exchange rates usd cad KASB said the bill is a way to raise additional funds for education.

The most prominent opposition came from Brownback, however. Exchange rate usd gbp In a statement, the governor touted his own budget proposal and rejected Senate Bill 147. 1 usd to zwd The aggressive comments marked the latest verbal bout between Brownback and Senate President Susan Wagle, R-Wichita, who have tangled over the state’s budget problems.

“Sen. Exchange rate us to india Wagle’s tax plan needlessly harms the real people that serve as the lifeblood of Kansas,” Brownback said. Feeder cattle futures market prices “It punishes the middle class — teachers, police officers, and nurses — working hard to provide for their families and serve their communities. Flower tattoo designs It punishes job-creators, the backbone of our Kansas economy.”

A Wagle spokeswoman said the Senate president had “no response at this time.” Senate Majority Leader Jim Denning, R-Overland Park, said he was surprised by the governor’s statement.

“The governor asked the Legislature to come up with a solution to structurally balance the budget, including tax policy,” Denning said. Investing com aud usd “The message to me was he was going to stay on the sidelines until we did our work.”

According to a fiscal analysis by state budget director Shawn Sullivan, the changes would raise $288 million in fiscal year 2018, which begins this July. Nyse futures exchange The amount raised would rise over time, with an additional $387 million coming into the state general fund by fiscal year 2021.

But the projected budget shortfall for the next fiscal year sits at upward of $500 million. Investing in futures and options markets Revenue raised by Senate Bill 147 would only partially fill the hole.

Wagle’s office has called the bill a “starting point” and one part of a larger budget package that will include debating cuts. Exchange rate australian to us dollar The legislation could also change before it reaches the floor. Love quotes Denning described it as a “launching pad.”

Senate Minority Leader Anthony Hensley, D-Topeka, has expressed reservations about the bill if it generates less than $400 million. Gender differences He has indicated he isn’t interested in budget cuts.

Hensley also chastised Republicans for infighting. Usd to myr converter He said Brownback is being hypocritical for criticizing Wagle for a middle class tax increase when the governor has signed legislation into law that increases taxes on the middle class. Gender roles Brownback approved a tax bill in 2015 that increased the state sales tax, a tax that Democrats often say hits middle-to-lower income individuals the hardest.

“We are now engaged in a war of words. Today’s exchange rate of usd to inr The people of Kansas are collateral damage in all of this because the Grand Old Party can’t get its act together,” Hensley said. Funny quotes and sayings “So we sit around and wait on them while they fight each other and there’s no progress being made as a result.”

At the hearing, Drew Quinn, an Overland Park businessman involved in commercial real estate, said the bill represents a private-sector job killer. Usd eur rate history He said the state’s LLC policy had put about $10,000 in his pocket, which he said he’s put toward improvements of his house.

“If you go and make this change after a mere four years, you are screaming to the outside public, ‘You cannot trust the state of Kansas, you cannot make business plans, you don’t want to come here because we’re unreliable and we’re going to change our tax policies because we can’t manage our state,’?” Quinn said. Binary translator google “I think this is a radical change. Hkd usd exchange rate This isn’t a minor change.”

Charlotte O’Hara, a former state lawmaker, said lawmakers set tax policy in 2012 and need to honor the policy. Exchange rate euro to dollar today Kansas has budget problems because of increased spending, she said.

Mark Tallman, with the Kansas Association of School Boards, argued in favor of the bill as a way to generate revenue for schools. Exchange rate rmb to usd The legislation could be part of a solution to the state’s budget problem, he said, adding that he favors additional revenue rather than spending cuts.

“We think it needs to go further,” Koch said. Exchange rate dollar to euro today “We support ending the march to zero, the trigger mechanism that automatically reduces income taxes beginning in 2019 when revenues exceed two and a half percent.”

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