
Following is a chart of the Fiscal Impact of the Tax Cuts supported by Tom Sawyer and enacted between 2005 and 2008. The accumulated total of just these tax will total over $1 billion once they are all fully implemented by 2013.
Most of the biggest tax cuts passed into law with Tom Sawyer's help occured before 2005 and are not included in this table: The 1992 Property Tax Reduction -that cut our property taxes in Wichita by 29%, further property tax cuts in the mid 1990s, Cutting Vehicle Taxes in half in 1995, The enactment of the Homestead Exemption in 1996, enactment of the Earned Income Tax Credit, and enhancements in the Homestead Refund and Sales Tax Refund programs; to name a few of the biggest Tom Sawyer supported tax cuts enacted prior to 2005.
Estimated Fiscal Notes for Selected Tax Cuts Supported by Tom Sawyer and Enacted into Law from 2005 to 2008 | |||||||||||||||
($ in millions) | |||||||||||||||
Session | Bill # | Brief Description | FY 2005 | FY 2006 | FY 2007 | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | thru FY 13 | |||
2005 | SB 256 | Income Tax Exemption-Military Recruitment Bonuses | $0.000 | -$0.587 | -$0.622 | -$0.660 | -$0.699 | -$0.741 | -$0.786 | -$0.833 | -$0.883 | -$5.810 | |||
2005 | SB 133 | Homestead Program - Indexing of the Refund | $0.000 | $0.000 | -$0.025 | -$0.050 | -$0.075 | -$0.100 | -$0.125 | -$0.150 | -$0.175 | -$0.700 | |||
2005 | SB 23 | Repeal of "Clunker" Sales Tax on Used Vehicles | -$5.000 | -$5.175 | -$5.356 | -$5.544 | -$5.738 | -$5.939 | -$6.147 | -$6.362 | -$6.584 | -$51.845 | |||
2005 | SB 138 | Certain Tax Credits | -$0.500 | -$0.500 | -$0.500 | -$0.500 | -$0.500 | -$0.500 | -$0.500 | -$0.500 | -$0.500 | -$4.500 | |||
2005 | HB 2040 | Sales Tax Exemption - Hearing Aid Repair | $0.000 | -$0.093 | -$0.096 | -$0.100 | -$0.103 | -$0.107 | -$0.110 | -$0.114 | -$0.118 | -$0.842 | |||
2005 | HB 2222 | Individual Devolpment Account Program | -$0.503 | -$0.503 | -$0.503 | -$0.503 | -$0.503 | -$0.503 | -$0.503 | -$0.503 | -$0.503 | -$4.527 | |||
2006 | SB 404 | Numerous Sales Tax Exemptions | $0.000 | $0.000 | -$12.702 | -$15.448 | -$17.291 | -$8.173 | -$8.630 | -$10.087 | -$11.546 | -$83.877 | |||
2006 | HB 2583 | Machinery and Equipment tax phase out | $0.000 | $0.000 | -$3.500 | -$27.162 | -$42.737 | -$58.905 | -$63.698 | -$62.729 | -$68.869 | -$327.600 | |||
2007 | HB2031 | Exempting Social Security from Income Tax & EITC Expansion | $0.000 | $0.000 | $0.000 | -$12.900 | -$19.400 | -$21.300 | -$23.400 | -$25.800 | -$26.135 | -$128.935 | |||
2007 | HB 2171 | Sales Tax Exemptions - Various | $0.000 | $0.000 | $0.000 | -$0.650 | -$0.673 | -$0.696 | -$0.721 | -$0.746 | -$0.772 | -$4.258 | |||
2007 | HB 2240 | Sales Tax Exemption - Repair of Transmission Lines | $0.000 | $0.000 | $0.000 | -$3.000 | -$3.387 | -$3.506 | -$3.629 | -$3.756 | -$3.887 | -$21.165 | |||
2007 | HB 2476 | Homestead Program Expansion | $0.000 | $0.000 | $0.000 | -$10.500 | -$11.000 | -$11.600 | -$12.200 | -$12.800 | -$13.500 | -$71.600 | |||
2007 | HB 2264 | Franchise Tax Phase Out | $0.000 | $0.000 | $0.000 | -$7.000 | -$16.500 | -$26.500 | -$37.000 | -$48.000 | -$50.000 | -$185.000 | |||
2007 | HB 2004 | Various Tax Credits | $0.000 | $0.000 | $0.000 | -$4.100 | -$4.100 | -$4.100 | -$4.100 | -$4.100 | -$4.100 | -$24.600 | |||
2007 | HB 2540 | Business Disaster Sales Tax Relief | $0.000 | $0.000 | -$0.400 | -$1.600 | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 | -$2.000 | |||
2008 | HB 2434 | Various Income, Sales and Property Tax Provisions | -$114.992 | ||||||||||||
Total These Bills | -$6.003 | -$6.858 | -$23.704 | -$89.716 | -$122.706 | -$142.670 | -$161.549 | -$176.479 | -$187.573 | -$1,032.251 |