The comeback state of 2019: Kansas economy rebounds from tax-cutting disaster. TopStates
forecasts revenue to level off and begin declining as soon as next year as growth slows. Republicans in the state legislature are pushing to restore some of the tax cuts, arguing that the Brownback plan failed not because it cut taxes but because it failed to keep spending in line.
Even Kelly acknowledged that merely reversing the Brownback tax cuts is not enough to put the state on solid ground. "We will be studying our entire tax structure, because it's way out of whack right now," she told CNBC. "We want to take us back to what works for Kansas, which is really essentially what we call the three-legged stool: Balance out our property taxes, our sales tax and our income taxes."Other states that bettered themselves in 2019 include North Dakota, which seems to have found some stability after its initial boom-bust cycle in the oil business. Therises 12 spots to No.
North Dakota's biggest issue is its severe worker shortage. Unemployment in the state for May was a mere 2.3%. With economic growth rising to 3.5% in the fourthvaults into the top five from ninth place last year, thanks to solid improvement in its economy. In fact, this year's CNBC study rates the Tar Heel State's economy the best all around in the nation, with a grade of A+. While economic growth last year only matched the national rate of 2.9%, other aspects of the economy are in great shape. Home prices appreciated by nearly 7%, according to the
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