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Judi Lynn

(160,542 posts) Wed Apr 20, 2016, 09:35 PM Apr 2016

Kansas governor eyes tobacco bonds for budget fix

Source: Reuters

Kansas governor eyes tobacco bonds for budget fix

April 20, 2016

(Reuters) - Kansas Governor Sam Brownback offered options on Wednesday for dealing with sinking revenue for the state's current and next budgets, including the sale of tobacco bonds.

With the fiscal 2016 revenue estimated to drop by nearly $94 million and fiscal 2017 revenue expected to be $134.7 million less than previously projected, the Republican governor said Kansas could raise about $158 million through its first sale of bonds backed by its share of a 1998 multi-state settlement with U.S. tobacco companies.

Several states and local governments have sold tobacco bonds with some using the proceeds as a one-time boost for their sagging budgets.

Brownback said he would also divert $185 million in sales tax revenue slated for the highway fund to the fiscal 2016 and 2017 general fund and continue a 3 percent university funding cut into fiscal 2017.

Read more: https://www.yahoo.com/news/kansas-governor-eyes-tobacco-bonds-budget-fix-010416580--business.html?nhp=1

7 replies

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Highlight:

Kansas governor eyes tobacco bonds for budget fix (Original Post) Judi Lynn Apr 2016 OP

Desperado, won't you . . . ChairmanAgnostic Apr 2016 #1

Can't raise taxes on the rich ... aggiesal Apr 2016 #2

mmmmmHmmmm. Volaris Apr 2016 #3

I think the tax cuts for the ruling class just weren't high enough hibbing Apr 2016 #4

Kansas. KS = Koch State BaronChocula Apr 2016 #5

+1 - This is naked godforsaken Republicanism against America AxionExcel Apr 2016 #6

All those budget balls he's juggling packman Apr 2016 #7

ChairmanAgnostic

(28,017 posts)

1. Desperado, won't you . . .

Reply to Judi Lynn (Original post)

Wed Apr 20, 2016, 09:49 PM

Apr 2016

I am waiting for him to cut the legislative salaries of Democrats, to help solve the budget crisis he created.

aggiesal

(8,915 posts)

2. Can't raise taxes on the rich ...

Reply to Judi Lynn (Original post)

Wed Apr 20, 2016, 11:20 PM

Apr 2016

but no problem strapping that obligation on the backs of those who can't afford it.

More transfer of wealth to Richie Rich.

When are people going to wake up?

Volaris

(10,271 posts)

3. mmmmmHmmmm.

Reply to Judi Lynn (Original post)

Thu Apr 21, 2016, 12:48 AM

Apr 2016

OR, he could just put the tax rate back to where it was..you know, WHEN IT WORKED?

Oh thats right, RichMotherFuckers can't ever have to have A Sad. I forgot.

hibbing

(10,098 posts)

4. I think the tax cuts for the ruling class just weren't high enough

Reply to Judi Lynn (Original post)

Thu Apr 21, 2016, 12:50 AM

Apr 2016

Cut them even more and THEN you will see the tax revenues come streaming in and the state will have so much money they won't know what to do with it. It's worked everywhere else right?

Peace

BaronChocula

(1,559 posts)

5. Kansas. KS = Koch State

Reply to Judi Lynn (Original post)

Thu Apr 21, 2016, 03:21 AM

Apr 2016

Seems clear to me whey he keeps doubling down on failed Republican policies of appeasing the rich. And how about his reversal on reducing CO2 in the atmosphere. Yeah Republicans!!!

AxionExcel

(755 posts)

6. +1 - This is naked godforsaken Republicanism against America

Reply to BaronChocula (Reply #5)

Thu Apr 21, 2016, 05:30 AM

Apr 2016

packman

(16,296 posts)

7. All those budget balls he's juggling

Reply to Judi Lynn (Original post)

Thu Apr 21, 2016, 10:58 AM

Apr 2016

has got to implode someday - rotten roads, school-university cuts, general welfare funds looted. Sounds like a pea-shell game.

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