Lawmakers representing Lyon County say there is work ahead to stabilize budgets over the next four to five years after the latest revisions by the Consensus Revenue Estimating Group.
17th District Senator Mike Argabright says lawmakers have a lot of potential factors to consider as they set budgets. The big one? Revenues versus expenses.
Both Argabright and 60th District Representative Mark Schreiber are also concerned about a potential economic downturn in general, especially with the impact of on-again, off-again tariffs yet to be determined.
Opinions differ on how to handle potential shortfalls, which could be as much as $500 million by fiscal 2028 or 2029. Argabright says the Legislature will need to prioritize certain budget items and look at cuts, especially as constituents ask for no new taxes. Schreiber says lawmakers may need to revisit certain tax exemptions and develop sunset plans as a way to add revenue.
The Consensus Revenue Estimating Group increased revenues by almost $380 million combined for fiscal 2025 ending June 30 and fiscal 2026 — but it says expenses are above tax receipts by $700 million to $800 million for the next several fiscal years, while ending balances from from almost $2.3 billion for fiscal year 2025 to $1.7 billion for fiscal 2026. Democrat Governor Laura Kelly blasted the Republican-led Statehouse for “bizarre and irresponsible budget gimmicks” leading to budgets “rivaling the worst of the Brownback years,” when tax cuts led to budget shortfalls and degraded credit ratings. Republican Senate President Ty Masterson says the governor “resorted to left-wing class warfare rhetoric in an attempt to lecture the Legislature and pretend to be a fiscal conservative,” adding the Republican budget boosted public safety, fully funded public schools and spent $50 million less than the governor’s budget option.
