Gov. Laura Kelly officially signed legislation that will cut taxes by $1.2 billion over the next three years.
The bill, which passed with massive bipartisan majorities in the Kansas legislature earlier this week, provides several tax cuts for Kansans, particularly when it comes to income taxes.
The top rate for taxpayers was lowered to 5.58% and the income brackets were reduced to two. Anyone making above $46,000 will pay the 5.58% rate. Anyone below that will pay 5.2%.
The bill also eliminates a state tax on Social Security benefits. It also dropped a repeal on the state’s 2% tax on groceries that was set for Jul. 1. The elimination of that tax will now happen next Jan. 1.
The bill does not fully address property tax relief as much as the two sides wanted it to which has led to calls to focus on property tax relief when legislators return to Topeka next year.
