Last year, I detailed Kansas’ roadmap for growth through comprehensive tax reform. Since then, the Center for Budget and Policy Priorities (CBPP), a left-leaning think tank funded by George Soros, lambasted Kansas’ significant pro-growth tax policy changes. These widely reported yet patently false claims fueled the opposition’s efforts to discredit the correlation between lower tax rates and economic growth. Below are five false claims that were published by the CBPP, followed by the facts that the organization chose to ignore or distort.
False Claim #1: Deep income tax cuts caused large revenue losses.
Facts: According to Kansas Interim Budget Director Jon Hummel, Kansas ended fiscal year 2013 with an 11.6 percent ending balance (3 percent more than what is required by state statute) and there is currently $700 million in the state’s reserve fund.