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Minutes for HB2395 - Committee on Taxation
Short Title
Providing for a 5% rate on all income over $10,000 for individuals and $20,000 for persons married filing joint returns.
Minutes Content for Mon, Mar 20, 2017
Mr. Wells provided an overview on HB2395 noting the bill would make adjustment to the two income tax brackets beginning in tax year 2017. Income from $0 to $10,000 or $20,000 if married filing jointly would be taxed at $0 and anything greater than $10,000 or $20,000 married filing jointly would be taxed at 5%.
Mr. Carroll noted on HB2395 the estimated fiscal effect would decrease the State General Fund revenue approximately $82 million and $64 million in 2018 and 2019, respectively.
There was no testimony as a proponent to HB2395.
Opponents:
James Franko, Kansas Policy Institute testified as an opponent to HB2395. (Attachment 6)
Written testimony was provided by the following in opposition to HB2395.
Heidi Holliday, Kansas Center for Economic Growth (Attachment 7)
Amanda Gress, Kansas Action for Children (Attachment 8)
Neutral:
Written testimony as Neutral to HB2395 was submitted by the following:
Sam Williams, Secretary, Department of Revenue (see Attachment 5).
Chairperson Johnson closed the hearing on HB2395.
Meeting adjourned at 4:08 p.m.
Next meeting scheduled for March 21, 2017.
