Brownback proposes lower income taxes, ‘flatter’ tax code
- Suzanna Stagemeyer I Associate Editor-Online Content - Kansas City Business Journal
Kansas Gov. Sam Brownback wants to cut the state’s individual income tax rates, pursuing a tax code that is “fairer, flatter and simpler,” according to his Wednesday evening State of the State address.
He proposed trimming the highest individual rate from 6.45 percent to 4.9 percent, which Brownback said is the region’s second-lowest, as well as moving the bottom tax bracket down to 3 percent. In addition, the proposal would do away with individual state income tax on most small business income.
“While there are certainly factors a state cannot control when it comes to its economy, taxes are one area we do control,” Brownback said. “And when it comes to taxes, we have some of the highest in the region. This hurts our economic growth and job creation.”
The tax cuts would be accompanied by getting rid of income tax credits, deductions and exemptions — ranging from deductions for adoptions and day care to the home mortgage deduction. Also, programs for low-income residents would be expanded.
“I firmly believe these reforms will set the stage for strong economic growth in Kansas — and will put more money into the pockets of Kansas families and businesses,” Brownback said.
Growth would allow for more tax cuts and make the state more competitive and attractive to residents, he said.
Brownback also urged the Legislature to keep government spending growth at or less than ...
