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2 | Page A pril 2 5 I ssueGovernor Kelly Announces Updated Consensus Revenue EstimatesTOPEKA (4.18.2025) %u2013 Governor Laura Kelly has announced the updated consensus revenue estimates (CRE). Secretary of Administration Adam Proffitt held a press conference immediately following the final CRE meeting on Thursday afternoon.%u201cToday%u2019s Consensus Revenue Estimates could be seen as positive news, but in reality, they underscore the seriousness of the financial predicament ahead,%u201d Governor Laura Kelly said. %u201cThe 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. %u201cIt 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.%u201dThe overall estimate for FY 2025 and FY 2026 was increased by a combined $377.5 million. The estimate for total taxes was increased by $195.1 million, and other revenues were increased by $182.4 million for the two years combined.%u201cWe%u2019re making the best possible estimate that we can, given all the potential headwinds and some of the policies that are shifting on a regular basis,%u201d said Secretary of Administration Adam Proffitt. %u201cI feel like we%u2019ve arrived at a good forecast that can serve policymakers well, over the next 18 months.%u201dThe governor and the Legislature determine State General Fund revenue using the CRE, which is prepared by the Consensus Revenue Estimating Group.The Consensus Revenue Estimating Group is composed of representatives from the Division of the Budget, Department of Revenue, and Legislative Research Department, and one consulting economist each from the University of Kansas, Kansas State University, and Wichita State University.The group meets twice a year, once in the spring and once in the fall.Highlights of Thursday%u2019s findings are beloRevenuesThe forecast is filled with uncertainty due to ever-changing federal actions that could significantly impact both the global and domestic economy.For FY25, total revenues increased by a combined $157.9 million compared to the previous forecast.Of this increase, taxes contributed to $101.5 million. Individual and corporate income taxes accounted for $125.0 million of the total.Other revenues, including interest earnings, increased by $56.4 million.In FY26, total revenues were raised by a combined $219.6 million compared to the previous forecast.Taxes contributed to $93.6 million of this increase. The individual and corporate income taxes accounted for $140.0 million.