Latest news with #TyMasterson
Yahoo
2 days ago
- Business
- Yahoo
4 The People: What to expect next in Missouri special session
KANSAS CITY, Mo. — The Missouri General Assembly's special session is halfway home. The Senate got a through after . Next up it's on to the House. Rudi Keller, deputy editor of the Missouri Independent, joins FOX4 to talk about how the session got to this point and what to expect in the next week. Meantime, no special session for Kansas lawmakers, who passed a STAR Bonds stadium package last year. See the latest headlines in Kansas City and across Kansas, Missouri Senate President Ty Masterson joins FOX4 with his observations on the Missouri package from a Kansas perspective, and with a deadline looming on the STAR Bonds package, when the dust might settle for both states. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
07-05-2025
- Business
- Yahoo
Grain Belt Express awards $1.7B in contracts for transmission line through Kansas, other states
Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Generate Key Takeaways The Grain Belt Express announced $1.7 billion in contractor awards on Wednesday to build a transmission line through Kansas, Missouri, Illinois and Indiana. (Robert Zullo/States Newsroom) TOPEKA – The Grain Belt Express, an 800-mile electric transmission line to be built through Kansas, Missouri, Illinois and Indiana, announced $1.7 billion in contractor awards on Wednesday. The awards were made to Quanta Services of Houston and Kiewit Energy Group Inc. of Omaha. Grain Belt Express is an Invenergy project expected to add 5,000 megawatts of U.S. energy delivery capacity, according to an Invenergy press release. It's also expected to provide $52 billion in energy cost savings to Americans over 15 years. 'Quanta Services and Kiewit have strong local presences and expect to source raw materials locally in Kansas and Missouri when possible, including concrete, aggregate, civil materials, conduit, and piping,' the press release said. 'Main construction, engineering, and procurement offices for Grain Belt Express Phase 1 will be based out of Overland Park and Lenexa, Kansas.' Kansas Senate President Ty Masterson said the Grain Belt Express is a multimillion dollar investment that will pay off for Kansans. 'The selection of contractors and suppliers with a local presence is just one of the many sizable economic benefits Grain Belt Express brings, in addition to greater energy cost savings and reliability,' he said. In April, the Kansas Corporation Commission modified the route for one of two transmission lines that will connect wind and solar farms to the Grain Belt Express that was originally planned to run for 46 miles through parts of Ford, Meade and Gray counties. 'The new route reduces the length of the line by 12 miles and avoids 24 parcels of land resulting in fewer landowners being impacted,' a KCC press release said. 'The 16-mile Bucklin-Dodge City Line remains unchanged.' A map showing the new route of the Meade-Dodge City line can be viewed here. The Invenergy press release said 1,500 agreements have been executed with landowners for easement rights. More than $105 million is part of executed easement agreements, including $19 million already paid to landowners and an additional $86 million due at construction, the company said. More than 95% of Grain Belt Express Phase 1 main line land acquisition is complete. 'Kansans working to balance household budgets and run businesses want energy that's affordable and reliable, and that's what we are getting with Grain Belt Express, all without ratepayers being forced to pay for it,' said Kansas House Speaker Dan Hawkins.
Yahoo
02-05-2025
- Politics
- Yahoo
Kansas water task force to gauge current and future supply, modernize policy
A dog keeps watch over an irrigated field in southwest Kansas, where farmers are facing increased pressure from state lawmakers to preserve groundwater in the quickly depleting Ogallala Aquifer. (Kevin Hardy/Stateline) TOPEKA — A water task force meant to ensure the 'precious resource is available for generations to come' received its first members this week. The 16-member panel of Republican and Democratic legislators, state officials and a handful of appointees from both parties will craft policy changes in an effort to evaluate Kansas' current and future water supply, funding efforts for water projects and potential impacts on the state's economy. Republicans announced their appointments Wednesday, which included an official from utility company Evergy, an environmental consultant and the manager of a public groundwater management district in northwest Kansas. Senate President Ty Masterson, an Andover Republican said these members are experts in the field with intricate understandings of water issues. 'Water is the essence of life, the foundation upon which Kansas thrives — sustaining our fields, fueling our communities, and nourishing our future — and truly runs through every decision we make, from agriculture to economic development,' Masterson said. The task force was born out of House Bill 2172, which passed the Senate in March with unanimous bipartisan support and the House with eight Republicans voting against it. The bill had no opponents in committee hearings. The task force's water policy recommendations will begin with a preliminary report due by the end of January and end with a final report that must be submitted to the governor and the Legislature by the end of January 2027. Within the next two months, the task force members must appoint people to a subgroup that would be responsible for modernizing the State Water Resources Planning Act. The subgroup's members must be attorneys, engineers, hydrologists, natural resource planners or others with experience with Kansas water issues, according to the legislation. First passed in 1963 and revamped in the 1980s, the State Water Resources Planning Act and the State Water Plan guide Kansas water management, conservation and development efforts. With drought becoming increasingly apparent in western and central Kansas, including the depletion of the High Plains Aquifer, the task force will address the state's current and future water needs. A focus on agriculture and industry is especially important, said House Speaker Dan Hawkins, a Wichita Republican. 'To say water is vital to Kansas agriculture, business, and communities would be an understatement, and the input from this Task Force will be key to ensuring this precious resource is available for generations to come,' he said in a Thursday news release. Gov. Laura Kelly, in her own news release distributed upon signing the task force bill into law in April, said the task force enables lawmakers to evaluate risks to Kansas' water quality and quantity through a funded, bipartisan group. 'Developing a comprehensive, long-term, and sustainable water program is long overdue and a significant step forward in ensuring Kansas' water supply is preserved for generations to come,' she said. Republican leadership's appointees included three Republican legislators; Jared Morrison, director of Evergy's water and waste programs; Kansas Chamber board chair Karma Mason; and Shannon Kenyon, the manager of Groundwater Management District No. 4 in northwest Kansas. Democratic leadership on Tuesday appointed Josh Svaty, a former state legislator and former state agriculture secretary, and Heidi Mehl, the Kansas director of water and agriculture for the Nature Conservancy, an international environmental organization. The task force also will include three nonvoting members from the Kansas Department of Health and Environment, the Kansas Water Office and the Kansas Department of Agriculture.
Yahoo
23-04-2025
- Business
- Yahoo
Kansas' budget could run a deficit for years
TOPEKA (KSNT) – In FY 2025, the State of Kansas is expected to run a $930 million deficit. That deficit is expected to continue until FY 2029, according to data provided by the Kansas Legislative Research Department (KLRD). Working for you, 27 News reached out to the KLRD to get a preview of the state budget following this year's legislative session. According to the State General Fund (SGF) Profile compiled by the Consensus Estimating Group, the approved FY 2025 budget is expected to run a $930.1 million deficit. Estimates push the state's budget deficit out to FY 2029. In FY 2029, the state's beginning balance is expected to be wiped out by the deficit of years prior, resulting in a projected debt of $730.5 million. Dana Chandler will not be granted a new trial The State of Kansas cannot run a negative ending balance and is required to have a positive balance each year. According to information provided by the KLRD, adjustments in expenditures would need to be made if receipts don't exceed expenditures over that time. Topeka nonprofit rescues kittens abandoned in ditch Fiscal Year Deficit 2025 $930.1 million 2026 $555.4 million 2027 $831.5 million 2028 $840.6 million 2029 $793.7 million Earlier this month, Governor Laura Kelly criticized republican 'budget gimmicks'. 'Today's Consensus Revenue Estimates could be seen as positive news, but in reality, they underscore the seriousness of the financial predicament ahead. The bizarre and irresponsible budget gimmicks used by the Republican-led Legislature spend more than the state takes in by nearly $800 million PER YEAR. Ultimately, this will lead to a historically large budget deficit, rivaling the worst of the Brownback years. It comes at the same time the Legislature has guaranteed large tax cuts for wealthy individuals and corporations, instead of the property tax relief they promised Kansas families. Kansans need to demand their legislators restore fiscal sanity and fairness when they return in January.' Governor Laura Kelly Walmart will remodel stores in Kansas Republican Senate President Ty Masterson issued the following statement: The truth is our responsible Republican budget spent $50 million less than the governor's budget and $200 million less than the prior year in SGF, while fully funding public schools and boosting public safety. It's also common sense that when revenues increase, we should return that to low-and-middle income Kansans. Senate President Ty Masterson (R-Andover) According to information provided by the KLRD, the estimates provided assume Kansas' economy will continue unchanged for the next five years. For more local news, click here. Keep up with the latest breaking news in northeast Kansas by downloading our mobile app and by signing up for our news email alerts. Sign up for our Storm Track Weather app by clicking here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Forbes
18-04-2025
- Business
- Forbes
Major Income Tax Cuts Enacted And Advanced In Slew Of GOP-Run States
Kansas state capitol in Topeka Lawmakers in multiple states have passed significant income tax rate cuts in recent weeks. Mississippi lawmakers and Governor Tate Reeves (R) enacted legislation in March that will phase out the Magnolia State's 4% income tax over time based on revenue triggers. Shortly thereafter, Kansas lawmakers followed suit by overriding a gubernatorial veto to enact income tax relief that moves the state tax code to a lower, flat rate. Kansas Senate President Ty Masterson (R) and Speaker Dan Hawkins (R) led the charge for Senate Bill 269, legislation enacted this week that will move Kansas from a progressive income tax code with a top rate of 5.58% to a 4% single rate income tax. Kansas lawmakers passed this income tax cut at the end of March and Governor Laura Kelly (D) vetoed it on April 10. On April 15, Kansas lawmakers enacted SB 269 by voting to override Governor Kelly's veto. SB 269 includes a revenue trigger resulting permanent rate cuts whenever a stipulated level of revenue collection is exceeded. Under 269, all surplus revenue collections exceeding growth in regional CPI inflation will be returned to taxpayers in the form of permanent income tax cuts until the rate falls to 4%. The tax reform package championed by Masterson and Hawkins also cuts the state corporate tax rate to 4% based on revenue triggers. Many in South Carolina hope their state is the next to enact rate-reducing income tax reform. Speaker Murrell Smith (R) and his colleagues introduced legislation in March to move the state from a progressive income tax with a top rate of 6.2%, to a flat 3.99% income tax. An economic impact study recently released by the Palmetto Promise Institute and the Buckeye Institute concluded that moving to a lower, flatter rate would come with many benefits for South Carolina residents and the state's economy. 'Broadening the base and moving to a flat rate of 3.99% will result in South Carolina's economy adding 1,000 jobs in 2026 and an average of 1,000 additional jobs each year between 2027 and 2030,' noted Oran Smith, senior fellow at the Palmetto Promise Institute. 'South Carolina's GDP will grow by $240 million in 2026 and average $250 million over the next 5 years, if the tax rate stays at 3.99%. Families will buy more because, they will have more money to purchase goods, and save and invest over $100 million annually each year over the next five years. 'Dynamic economic modeling, which considers how people and businesses respond to policy changes, shows that this tax plan will make South Carolina a more prosperous state and poised to compete with neighboring states that have already enacted tax policy reform over the past few years,' Smith added. 'The scenario below models collapsing all current personal income tax brackets in South Carolina into a single bracket with a flat rate of 3.99%. Table I below presents the dynamic effects of this scenario. Under this scenario, South Carolina's economic output (GDP) would increase by $240 million (2024 dollars) in 2026, with investment increasing by $110 million and consumer spending increasing by $70 million in the same year. Ultimately, the number of jobs for 2026 would be expected to increase by 1,000.' At the March 18 press conference announcing the Speaker's tax reform proposal, Governor Henry McMaster (R) and South Carolina Senate leaders announced that they, like Speaker Smith and his colleagues, see income tax rate reduction as a top priority to pass before adjourning session in May. The South Carolina House Ways & Means Committee will hold a hearing next week to take up the Speaker's tax reform bill and consider amendments. If they're successful, South Carolina will soon have a lower rate than neighboring Georgia and will be on more competitive footing relative to North Carolina. Underscoring the heightened level of state tax competition, North Carolina lawmakers took action this week to increase their fiscal policy advantage over South Carolina, Georgia, and other states. The North Carolina Senate passed a new budget on April 17 that would take the state's 4.25% flat income tax down to 1.99%, provided certain revenue triggers are met. Under current law, North Carolina's income tax rate will fall to 3.99% and possibly as low as 2.49% so long as revenue triggers are met. Like their counterparts in North Carolina, the Oklahoma Senate approved income tax relief this week. On April 14, the Oklahoma Senate passed House Bill 1539, legislation that phases out the state income tax entirely over time based on revenue triggers being met. Oklahoma currently has a progressive income tax with a top rate of 4.5%. If the Oklahoma House votes to concur with the changes made by the state senate, the bill will go to Governor Kevin Stitt (R) for his signature. Governor Stitt has long been a champion of phasing out Oklahoma's income tax. 'There are nine states with no state penalty on work,' said Oklahoma Sen. Micheal Bergstrom (R-Adair). 'Consistently, they're experiencing better growth and opportunity, and this is not a surprise. When you don't penalize work and job creation in the form of state income taxes, your citizens are better positioned to pursue opportunity for themselves and to expand opportunity for others.' National media outlets have published multiple articles in recent days and weeks alleging that Republican members of Congress are warming up to the prospect of allowing the top marginal federal income tax rate to go up for filers whose income exceeds some amount. On April 17, however, Kimberley Strassel reported in the Wall Street Journal that the push to raise the top marginal income tax rate is being led by certain White House staffers, which Larry Kudlow has also reported. While some advisers may be trying to convince the President to break a well documented campaign promise by raising the top federal income tax rate, Republican state lawmakers across the country are going in the other direction, taking action to reduce top rates, move to flatter income tax codes, and ultimately end state taxation of household earnings.
