TOPEKA, Kan. (AP) — Kansas officials are blaming changes in federal tax policies for lower-than-expected state revenue collections in April.
The Department of Revenue reported Wednesday the state’s April collections were $92 million less than analysts had forecast less than two weeks ago. More than $89 million of the shortfall was in individual income taxes related to federal changes in calculating capital gains on investments and other income.
Revenue Secretary Nick Jordan blamed President Barack Obama’s administration and changes made to the federal tax code that expired on Jan. 1, 2013.
Jordan says other states have seen similar declines in revenue collections, including Michigan which saw revenues drop 42.6 percent.
The April totals were announced as legislators returned to Topeka to finish work on the state budget and other issues.