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- Kansas_Senate_Bill_Substitute_HB_2117 abstract "In May 2012, Kansas Governor Sam Brownback signed into law the Kansas Senate Bill Substitute HB 2117, one of the largest income tax cuts in Kansas' history. The bill was introduced in January 2011, was approved by Brownback on May 2012, and became effective on July 1st in the same year.The law eliminates income taxes for the owners of 191,000 businesses, and cuts individual's income tax rates. The income tax cuts would provide US$231 million in tax relief in its first year, growing to US$934 million after six years. A forecast from the Legislature’s research staff indicated that a budget shortfall will by emerge by 2014 and will grow to nearly US$2.5 billion by July 2018. The cuts were based on model legislation published by the American Legislative Exchange Council (ALEC).Brownback described the tax cuts as a live experiment, stating that “[on]n taxes, you need to get your overall rates down, and you need to get your social manipulation out of it, in my estimation, to create growth. We’ll see how it works. We’ll have a real live experiment.”In an op-ed dated May 2014 in The Wall Street Journal, titled "A Midwest Renaissance Rooted in the Reagan Formula", Brownback compared his tax cut policies with those of Ronald Reagan, and announced a “prosperous future” for Kansas, Oklahoma and Missouri, by having elected the economic principles that Reagan laid out in 1964.".
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- Kansas_Senate_Bill_Substitute_HB_2117 wikiPageWikiLinkText "Kansas Senate Bill Substitute HB 2117".
- Kansas_Senate_Bill_Substitute_HB_2117 wikiPageWikiLinkText "signed into law".
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- Kansas_Senate_Bill_Substitute_HB_2117 subject Category:Kansas_Legislature.
- Kansas_Senate_Bill_Substitute_HB_2117 comment "In May 2012, Kansas Governor Sam Brownback signed into law the Kansas Senate Bill Substitute HB 2117, one of the largest income tax cuts in Kansas' history. The bill was introduced in January 2011, was approved by Brownback on May 2012, and became effective on July 1st in the same year.The law eliminates income taxes for the owners of 191,000 businesses, and cuts individual's income tax rates.".
- Kansas_Senate_Bill_Substitute_HB_2117 label "Kansas Senate Bill Substitute HB 2117".
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