Plummeting revenues, underfunded pensions and millions in court-ordered school spending led Moody’s Investors Service on Thursday to cut the state’s credit rating by a notch.
The ratings agency slightly lowered the state’s credit rating because of mounting financial pressure on the Kansas state budget, partly from massive income tax cuts that Republican Gov. Sam Brownback signed into law in 2012 and 2013.
... Brownback blames the national economic climate and President Obama’s policies for the shortfall.
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