16 January 2024
TOPEKA (KSNT) – Kansas Republicans create a tax plan of their own, compromising with some of Governor Laura Kelly’s proposals.
The Republican-led committee in charge of taxation met Tuesday and forwarded a tax plan of their own. According to a press release, this tax plan will simplify the tax code and reduce taxes for Kansans. This comes after Governor Kelly released a tax cut proposal of her own on the first day of the 2024 legislative session.
HB 2284, the bill for the Republican-created tax plan, proposes the following:
Eliminate state taxes on Social Security income benefitting Kansas retirees
Exempts the first $100,000 on state property taxes for all Kansas homeowners, adjusted each year for inflation
Simplifies the tax code via a dual-rate structure that exempts the first $6,150 in income for every Kansan ($12.300 for married couples) and established a 5.25% rate on income after that, providing long-term relief to low and middle-income families
Adjusts the standard deduction according to inflation and increases the personal exemption by $50 from $2,250 to $2,300, also adjusted each year for inflation
Accelerates the elimination of the state sales tax on food by July, 1, 2024
“Our compromise plan helps retirees, benefits families of all income levels, and eases the burden of inflation for all Kansans. It is built for the future with adjustments for inflation, while moving us toward a simpler, fairer, and lower tax structure which would set our state on course for real and sustainable economic growth. We are moving quickly to adopt this plan and are hopeful the governor will meet us in the middle and help us deliver the tax relief all Kansans deserve.”
Statement from House Speaker Dan Hawkins and Senate President Ty Masterson
This plan by Republican Lawmakers incorporates some components from Kelly’s tax cut proposal, such as eliminating the sales tax on food and state taxes on Social Security income as well as increasing the standard deduction.
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