Moody's

Moody’s Investors Service says Kansas will need to make more spending cuts to offset tax cuts that have sharply reduced state revenues.

Moody's downgraded Kansas bonds last month on the same day the state announced April revenue collections fell $93 million below estimates. Moody’s says most of the state’s revenue shortfall was because less money was collected in individual income taxes.

State administration officials say they're confident that Kansas will retain a strong credit rating, despite a recent downgrade on bonds and concerns about the effect of state income tax cuts.