By Trish Svoboda
The bipartisan tax cut package Governor Laura Kelly rolled out earlier this month has been introduced in the Kansas House and Senate.
“The introduction of this bipartisan tax cut plan in both chambers is the first step toward putting money back in the pockets of hard-working Kansans,” Governor Laura Kelly said. “This comprehensive, fiscally responsible plan to cut property, sales, and retirement taxes benefits middle-class families — without putting at risk our public schools, roads, and stable economy.”
The tax proposal, resulting in savings of over $1 billion for Kansans over three years, includes the following measures:
· Reduces state property taxes for Kansas homeowners.
· Completely eliminate state taxes on Social Security income.
· Raises the standard deduction to reduce the amount Kansans pay in state income taxes.
· Immediately eliminates the state sales tax on groceries, diapers, and feminine hygiene products.
· Provides relief for working families requiring childcare.
· Creates a state sales tax holiday for back-to-school expenses.
If approved, Kansans will start experiencing the benefits of this legislation in April. The estimated fiscal impact of the bipartisan legislation can be found here.