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April 21, 2020Topeka, Kan. |  By: AP

Kansas faces $653M shortfall after tax projections slashed

TOPEKA, Kan. (AP) - Kansas is facing a projected an 8.1% shortfall in its next state budget after a new fiscal forecast slashed projections for expected tax collections over the next 15 months by nearly $1.37 billion.

The new forecast issued Monday reflects the economic damage associated with the coronavirus pandemic. Tax collections are projected to be lower for the current budget year and the 2021 budget year that begins in July than they were during the 2019 budget year.

The result would be a $653 million shortfall at the end of June 2021. The Kansas Constitution prohibits a deficit, so the state would have to make adjustments.