LINCOLN — Below is a statement from OpenSky Policy Institute Executive Director Rebecca Firestone regarding the state revenue projections made Monday by the Nebraska Economic Forecasting Advisory Board.
“Today’s forecast provides a rosy state revenue picture but we also know we are in unprecedented times, as was evidenced by the uncertainty expressed by several forecasting board members in their comments about our economy. Our revenues are being impacted by a range of factors beyond the control of the Legislature – such as a massive influx of federal relief dollars, substantial inflation, and workforce shortages. Given this, we are concerned that we are in a fiscal bubble. We therefore urge caution about enacting ongoing tax or spending measures as they will force tough choices in the future when revenues fail to keep up with state needs.”
Contact Chuck Brown at 402-610-1522 at cbrown@openskypolicy.org for more information.