Kansas officials have issued a new, more optimistic fiscal forecast for state government and projected healthy cash reserves through June 2022. The fiscal forecasters revised the state’s projections for tax collections during the current 2021 budget year, which ends June 30, upward by nearly 4%, or $304 million.
The forecast was issued by the Consensus Revenue Estimating Group. The group is composed of representatives of the Kansas Division of the Budget, Department of Revenue, Legislative Research Department, and one consulting economist each from the University of Kansas, Kansas State University, and Wichita State University.
The forecasters also made a small change in the projections for tax collections for the 2022 budget year, increasing the total by $38 million. Legislative researchers projected that Kansas will have $1.15 billion in cash reserves on June 30.
The new forecast Tuesday gave Republican lawmakers new ammunition in pushing for state income tax cuts over Democratic Gov. Laura Kelly's objections.