Kansas tax panel finalizes deal; What's next?
TOPEKA, (KSNT)- Kansas lawmakers have finally reached a deal on tax relief. Kansas House Speaker Dan Hawkins posted online about the plan Wednesday night.
In an interview with Nexstar's Kansas Capitol Bureau, shortly before meeting to finalize the deal, Senator Caryn Tyson, who chairs the Senate Tax committee spoke about the details of the mega tax package.
"The mega tax bill will include exempting social security... for all... it's got a little bit of property tax relief," Tyson, R-Parker, said. "It does decrease the top bracket which the Governor complained about because it helps the highest income earners in the state of Kansas, but these are the provisions that have apparently been negotiated and worked on."
According to Hawkins' post, the deal would also increase the standard deduction, and speed up the elimination of the state food sales tax to July 1.
As for addressing income tax, the bill keeps the three-tiered tax bracket, but cuts the highest bracket from 5.7% to 5.5%.
Sen. Tyson said they're hoping to bring the bill to the floor on Thursday.
"We are trying to get tax relief for all Kansans... and different people have different ideas of how that looks... not everybody agrees... but, if we can get something across the line, at least it will be some tax relief for Kansans," she said.
To watch the tax panel committee meeting from Wednesday, click here.