Kansas Legislators Consider Using State Investment Earnings To Aid Shortfall

Kansas legislators are pushing a plan to close a projected budget shortfall without cutting aid to public schools.

The House Appropriations Committee endorsed a bill Monday that would liquidate a state investment portfolio. The move would raise $317 million in funds for a loan to the state’s main bank account that would be paid back over seven years.

The measure goes to the full House for debate.

Lawmakers in both parties do not like the internal borrowing but said it’s a better alternative than attempting to cut spending immediately. The state faces a projected shortfall of about $320 million for the fiscal year that ends June 30.

Senate GOP leaders advanced a plan last week to cut education funding by $128 million but canceled a debate when senators balked.

 

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Now in his third year as News Director at KD-Country 94 and Z-96.3 The Lake, Chad is a jack of not all, but many trades. He spent previous years of his working life in hotel management, event planning, security, the aviation industry, staff writing for a newspaper, and as a small business owner. He began doing play-by-play of high school sports for KDNS and KZDY in 2009 and came to work full time for the stations in July of 2015.He is the father of an eight year old daughter who enjoys spending his free time with her, his very significant other and her children. His favorite activities include attending live music and sporting events as well as being a singer/songwriter. A natural conversationalist, he also enjoys a good discussion/debate on a myriad of topics from current events and politics to sports and philosophy. He resides in Beloit with his daughter and continues to write sports and meeting stories for the local newspaper.