Sam Brownback’s economic policies stimulate Kansas economy by negative $338 million in one year
A real “shot of adrenaline” – that’s what Kansas Gov. Sam Brownback’s economic policies, which include eliminating income taxes on LLCs and “small-business income” (handy explanation of that here), were going to be, according to Brownback.
Kansas’ state revenues fell $97 million short of Brownback’s projections in April.
In May, the shortfall was more than twice that amount: $217 million.
Today we have June’s numbers. The state is $28 million below projections on the month.
Add it all up, and Brownback’s plan to stimulate the Kansas economy is $338 million short on the fiscal year.
“Our governor has given away $2 billion worth of tax revenue without the guarantee of a single Kansas job,” former Lt. Gov. John Moore, a senior adviser to Democratic challenger Paul Davis’ campaign for governor, told the Lawrence-Journal World. “That is not pro-growth; that is profoundly irresponsible.”
No word from Brownback yet, but presumably he blames Obama.
Speaking of Paul Davis’ advisers: Another former lieutenant governor, Gary Sherrer (who’s a former Republican), has joined Davis’ campaign as an economic adviser. Sound economic advice being something Kansas could really use from a governor these days.