May 22, 2024

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Kansas lawmakers fall short in attempt to override tax cut veto

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Kansas lawmakers fall short in attempt to override tax cut veto

Kansas Gov. Laura Kelly’s veto of expansive tax cut legislation barely fended off an override, which fell short by one vote in the Senate after easily passing the House. 

House Bill 2036, which cleared the Republican-controlled legislature in April with hefty majority votes, included on the state’s AA-minus rating to positive last year. 

Fitch Ratings, which in January released its first-ever issuer default rating for Kansas at AA, cited the state’s “sustained trend of structurally balanced budgets” and the rebuilding of fiscal reserves to levels well above historical norms. The outlook is stable.

Moody’s Ratings assigns Kansas its Aa2 issuer rating with a stable outlook.