KANSAS — Kansas is dealing with a financial bombshell in the midst of the coronavirus pandemic.
Experts are projecting that the state will lose more than one billion dollars in the coming years.
The lack of revenue coming in to the state combined with the cost of fighting the coronavirus, has Kansas expecting a major economic downturn over the next couple of years.
Experts are comparing it to the U.S. recession in 2009 and the Kansas recession following Former Governor Brownback’s tax cuts in 2015.
Larry Campbell, Kansas Budget Director, said, “This makes that look, this is challenging and we’re in uncertain times and so there’s going to be changes.”
It is being projected that Kansas will have a $653 million shortfall by 2021
To make up those funds, Political Analyst Bob Beatty says Kansas could see tax increases, major budget cuts or both.
Beatty says that, despite all of this, Kansas is actually in a much better place than some other states.
Bob Beatty, Political Analyst, said, “Already some other states are having to cut right now because they have no extra money. Kansas had some money in the bank; so it’s going to be painful, but maybe not as painful as some neighboring states.”
Experts say they are also hopeful that the federal government will provide additional funds to bailout states, similar to what happened following the 2009 recession.
“It could really help the state of Kansas down the road.”
Governor Kelly says she will be speaking with the Budget Director and legislators to come up with a budget plan.