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Nov. 12, 2021Topeka, Kan. |  By: AP

New forecast boosts Kansas tax revenue projections by $1.3B

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TOPEKA, Kan. (AP) - Kansas officials have issued a new, far more optimistic fiscal forecast forecast for state government and have increased their projections for tax collections by $1.3 billion for the current budget year.

The new forecast issued Wednesday increased the state's projections for its tax collections for the 2022 fiscal year that began July 1 by 17.1% to $8.9 billion. 

The forecasters also projected modest growth in tax collections of 3.2% for the 2023 budget year, an increase of $288 million, to nearly $9.2 billion.

The new numbers come with Democratic Gov. Laura Kelly and members of the Republican-controlled Legislature already planning to pursue tax cuts next year.