From The Daily Caller:
A Brownback loss would deal a blow to conservative fiscal policy around the country, as other Republican governors would likely think twice before enacting similar reforms.
Cato’s report acknowledged the criticism, but maintained the cuts are good for the economy in the long run. “Some Kansas legislators may view slower revenue growth as a terrible problem,” reads the report, “but it creates an opportunity for them to improve government efficiency and cut unneeded programs.”
Some more:
The report praises Brownback for not only slashing tax rates, but also balancing the budget by cutting spending. He cut the income tax rate from 6.45 percent to 4.9 percent in 2012, and that rate is scheduled to drop to 3.9 percent by 2018.
According to the report, his plan will save Kansas taxpayers $800 million a year.
Brownback offset the cuts with an increase in the sales tax from 5.7 to 6.15 percent, and has balanced the budget in the past few years. But slow economic growth and projected gaps in future budgets caused Moody’s Investors Service to downgrade the state’s credit rating this year, and critics are blaming Brownback’s tax cuts.