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Kansas legislators leery of budget fix yet moving toward it

Gov. Brownback gives the 2015 State of the State address- courtesy photo
Gov. Brownback – courtesy photo

TOPEKA, Kan. (AP) — Kansas legislators are gravitating toward an accounting move proposed by Republican Gov. Sam Brownback to help paper over a shortfall in the current state budget.

They’re receptive to his complicated plan even though they doubt it is a good idea.

Brownback’s plan would liquidate a state investment portfolio to raise cash to back $317 million in internal borrowing, with the state paying itself back over seven years.

House and Senate committees reviewed Brownback’s proposal Wednesday as many states struggle with budget problems. In Kansas, Oklahoma and Indiana, the problems are serious enough for legislators to reconsider past tax cuts designed to stimulate the economy.

But Kansas can’t raise taxes quickly enough to plug the projected $342 million hole in the budget for current fiscal year before it ends June 30.

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