A move by Kansas Republicans to overturn deep tax cuts due to budget pressures has sent a clear message to Washington and other state legislatures that they’ll need to trade carefully when planning reforms of their own.
The decision will not be lost on the Trump administration, which has so far provided scant detail on how it intends to fund plans that include slashing the corporate tax rate to 15%.
State lawmakers, too, may be wary of suffering the same credibility hit taken by Kansas Governor Sam Brownback, who introduced the tax cuts in 2012. This week, he unsuccessfully attempted to veto moves to undo his work, after fellow Republicans faced complaints from constituents frustrated over cutbacks to education and other state spending.
Eighteen of the state’s 31 Republican senators and 49 of the party’s 85 House members voted against the governor. Their bill restored a third tax bracket for high income earnings and killed off so-called “pass-through” exemptions for some small businesses.
“It’s wrong for growth, and I don’t think it’s going to be a positive for this state moving down the road.”
“I think it’s wrong for the long-term view of the state of Kansas,” Brownback said. “It’s wrong for growth, and I don’t think it’s going to be a positive for this state moving down the road.”
Like Brownback, Treasury Secretary Steven Mnuchin has suggested Trump’s cuts will pay for themselves by generating economic growth.
To be sure, Mnuchin also has indicated that some tax loopholes might have to go to provide funding support. The idea of a proposed “border-adjustment tax” on imports, meanwhile, isn’t quite dead in the water yet.
CEOs have put tax reform at the top of their government wish list, though Chief Executive’s latest 2017 Best & Worst State’s for Business indicates that doesn’t necessarily mean they’re in Brownback’s camp, either.
Kansas appeared near the middle of the national state rankings at 27th and its taxation score was only slightly better, at 23rd.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
