Tax Credits Targeted In Brownbacks Plan
KSCB News - January 12, 2012 8:29 am
Kansas Gov. Sam Brownback is proposing that the state scrap 23 income tax credits, including one that often results in an annual refund to the working poor.
Eliminating the credits is a key part of the tax plan Brownback outlined Wednesday evening in his annual State of the State address.
The governor said he wants to make the individual income tax code fairer and simpler.
But his proposal to eliminate the earned income tax credit is likely to spark debate. The credit goes to the families of poor workers, and it often results in annual refunds, even if they don’t pay taxes.
Brownback also is proposing to eliminate a tax credit for adoption expenses and one for developers who preserve historic buildings.
Other targeted credits go to business investors.