- Associated Press - Monday, February 27, 2017

TOPEKA, Kan. (AP) - Moody, a ratings agency, is criticizing Gov. Sam Brownback’s veto of tax legislation, saying it represents a “credit negative” to Kansas.

The Topeka Capital-Journal (https://bit.ly/2lYr45z ) reports Brownback vetoed a bill that would’ve raised personal income taxes and reinstated a third tax bracket Wednesday.

Brownback called it a “punitive tax increase on working Kansans.”

The Legislature attempted to override the veto hours later. However, the veto fell short in the Senate.

Moody’s senior analyst, Dan Seymour, says Kansas will keep struggling to balance its budget if it continues with a lower-tax policy.

He says the state’s credit may be at risk in the future.

The vetoed bill would’ve raised more than $590 million next fiscal year.


Information from: The Topeka (Kan.) Capital-Journal, https://www.cjonline.com

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide