January 13, 2017
State of the State
Tuesday, January 10, 2017, Governor Sam Brownback was invited to a joint session of the Kansas House and Senate to deliver his annual State of the State Speech. The speech by the governor outlines his initiatives and focus for the upcoming years.
It is of no surprise to many Kansans that the current budget year is currently experiencing a deficit of approximately $350 million. The governor addressed the shortfall and presented his plan to balance the budget.
He is focusing on a one-time fix for the current fiscal year by using the Pooled Money Investment Board, a value of $317 million, as collateral on a 7-year note that will begin repayment in fiscal year 2018. The amount of this loan would almost provide enough of cash infusion to balance our current year’s books. Although I contend we could evaluate the use of these funds for a quick solution to our budgetary needs; I would also prefer to look at other options, as well. The State Budget Director, Shawn Sullivan, addressed the governor’s budget and revenue plans for fiscal years 2017 through 2019 on Wednesday, January, 11, 2017.
Citizenship in Action
My office announced on Wednesday that I will be providing one scholarship to a 4-Her between the ages of 13-18, to participate in the Kansas 4-H program, Citizenship in Action, which will take place in Topeka February 19-20, 2017. The Citizenship in Action program allows 4-Hers to travel to Topeka and participate in mock legislative sessions, meet elected officials, and tour the statehouse. The deadline for submissions is January 30, 2017. For more information, email me at [email protected], or call my office at (785) 296-7672.
Tax Bills Early
In a rare event, on the first day of the 2017 Legislative Session, the House Tax Committee discussed the specifics of certain pieces of tax legislation. The discussion mainly focused on the portion of the 2012 Tax Plan, commonly referred to as the LLC Loophole. After much discussion during the committee meeting, a bill was introduced that would eliminate the income tax exemption from LLCs and other business types, and place them back on the income tax rolls.
On Tuesday of this past week, an additional bill was introduced that would provide a flat tax for personal income tax. For individuals making $20,000 or more annually, there would be only one tax rate of 5%.
Contact Information
As always, if you have any concerns, feel free to contact me (785) 296-7672, visit www.troywaymaster.com or email me at [email protected]. Also, if you happen to visit the statehouse, please let my office know.
It is a distinct honor to serve as your representative for the 109th Kansas House District and the state of Kansas. Please do not hesitate to contact me with your thoughts, concerns, and questions. I always appreciate hearing from the residents of the 109th House District and others from the state of Kansas, as well.
Troy L. Waymaster, (R-Bunker Hill) is the 109th Dist. State Representative and chairman of the House Appropriations Committee.