OLATHE— Governor Laura Kelly today ceremoniously signed Senate Bill 1, the bipartisan package of sustainable tax cuts, in Olathe. The bill comprehensively reduces taxes for Kansas residents while ensuring the long-term fiscal health of the state.

“Kansas residents can expect significant tax cuts and can be assured that these will not jeopardize our ability to continue to fully fund essential services,” Said Governor Laura Kelly. “This bipartisan bill gives Kansas residents the tax relief they needed, deserved and our state could afford.”

Senate Bill 1, passed with bipartisan support and signed by Governor Kelly in June, offers Kansas residents nearly $2 billion in tax cuts over the next 5 years. The bill completely eliminates state taxes on Social Security income, saving Kansas retirees $152 million in the first year alone.

The law also cuts property taxes by increasing the residential property tax exemption to $75,000. Residential property owners will save more than $236 million over five years. In addition, the law cuts income taxes while increasing the standard deduction and the child and dependent care tax credit.

“By responsibly reducing property and income taxes, we are implementing comprehensive tax cuts that will impact all Kansas residents,” said Kansas State Senator Rob Olson, District 23. “I am proud to have worked with Governor Kelly and lawmakers from both parties to get this bipartisan package across the finish line.”

Photos of the signing ceremony are available for media use:

###