LEAVENWORTH, Kansas (WIBW) – Kansas Governor Laura Kelly ceremoniously signed Senate Bill 1, the sweeping, bipartisan tax cut package, Thursday morning in Leavenworth, officials said.

The bill “responsibly lowers taxes for Kansas residents while ensuring the long-term financial health of the state,” according to a press release from the governor’s office.

“This comprehensive tax cut package provides long-overdue relief to all Kansas residents,” Kelly said in the release. “We are giving them more money back while ensuring we can continue to fully fund our schools, roads and bridges, and other critical services.”

Kelly signed Senate Bill 1 in June, which provides Kansas residents with nearly $2 billion in tax relief over the next five years. According to the press release, the bill reduces property taxes by increasing the residential property tax exemption to $75,000, saving residential property owners more than $236 million over five years.

The law saves Kansas retirees $152 million in the first year alone by eliminating state taxes on Social Security benefits. In addition, the law reduces income taxes while increasing the standard exemption and the child and dependent care tax credit.

“This bipartisan tax bill provides significant property tax relief to Kansans and supports our seniors by eliminating the state tax on Social Security income once and for all,” said Kansas State Senator Jeff Pittman (D-Leavenworth). “I am proud to have worked across party lines to pass this fiscally responsible tax plan that benefits all Kansans while keeping our state budget solvent for the next five years.”

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