Tax Study Released Today

A new study on the ramifications of lowering the state income tax was released today at a statehouse news conference. Bernie Koch, executive director of KEPC, and study author Dr. John Wong presented findings at the statehouse today. The study finds that, for every 1 job created, 1.63 are lost due to study released today finds that a lowering of the income tax would result in a loss of 1.63 jobs due to a reduction in overall state spending. The study was commissioned by the Kansas Economic Progress Council.

The press release is available here, and the ful text of the study is available here.

Dr. Wong’s slide deck is available here.

KEPC UPDATE: Employment figures for KS and region

A look at the latest employment figures in Kansas and the region

Here’s a quick update on last week’s employment growth figures for Kansas. You may already know that Kansas jobs grew about 0.8% from August of 2013 to August of 2014 (seasonally adjusted).

How does Kansas compare to the states in the region? The growth rate is based on figures available from the Bureau of Labor Statistics.

  • Colorado                     2.27%
  • Oklahoma                    1.90%
  • Missouri                       1.79%
  • Arkansas                      1.50%
  • Iowa                            1.17%
  • Kansas                        0.79%
  • Nebraska                     0.63%

 

Note that the growth rate for Colorado, Oklahoma and Missouri experienced three times the growth rate as Kansas.

An omission to our median household income growth story

In our newsletter earlier this week on median household income growth in Kansas and the region, we neglected to include Oklahoma income growth.

Here are the figures with Oklahoma included. The growth rate is from 2008 to 2013. The information was published by Stateline, the daily news service of the Pew Charitable Trust, using information from the American Community Survey of the U.S. Census Bureau.

  • Oklahoma                    6.70%
  • Iowa                            6.60%
  • Arkansas                      4.40%
  • Nebraska                     3.50%
  • Colorado                      3.20%
  • Kansas                       1.60%
  • Missouri                       0.10%

Note that all of the regional states with higher growth rates than Kansas were growing at least twice as fast. Oklahoma and Iowa household income grew four times as fast as Kansas.

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