For Immediate Release:
August 8, 2024
Contact:
Grace Hoge
[email protected]
Governor Kelly Celebrates Sustainable
Tax Cuts Package in Leavenworth
LEAVENWORTH — Governor Laura Kelly today ceremonially signed Senate Bill 1, the bipartisan comprehensive tax cuts package, in Leavenworth. The bill responsibly cuts Kansans taxes while preserving the state’s long-term fiscal health.
“This comprehensive tax cuts package provides long-overdue relief for all Kansans,” Governor Laura Kelly said. “We’re putting more money back into their pockets while ensuring we can continue fully funding our schools, roads and bridges, and other essential services.”
Governor Kelly signed Senate Bill 1 in June, providing Kansans with nearly $2 billion in tax cuts over the next 5 years. The bill reduces property taxes by increasing the residential property tax exemption to $75,000, saving residential property owners more than $236 million over 5 years.
The bill also saves Kansas retirees $152 million in the first year alone by eliminating state taxes on Social Security income. Additionally, the bill reduces income taxes while increasing the standard deduction and the Child and Dependent Care Tax Credit.
“This bipartisan tax legislation gives Kansans essential property tax relief and supports our seniors by eliminating the state tax on Social Security income once and for all,” said Kansas State Senator Jeff Pittman, District 5. “I'm proud to have worked across the aisle to pass this fiscally responsible tax plan that benefits all Kansans while keeping our state budget solvent for the next five years.”
Photos from the ceremonial signing are available for media use:
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