Preventing low- and middle-income Nebraskans from paying higher taxes because of inflation -- which would occur under LB 738 -- is a desirable goal. However, an amendment on the bill that would delay implementation until 2020 to push the fiscal impact into the future is concerning.
LB 947 does not address the root of Nebraska’s property tax issues, will not generate enough economic activity to offset the large revenue losses it will create and any tax relief could very well go unnoticed by many Nebraska taxpayers.
It is important to prevent Nebraskans – particularly low- and middle-income residents – from experiencing state tax increases because of federal tax cuts. It also is important that key services such as education, health care and roads be protected from additional funding cuts should the state impact from federal tax cuts differ from projections. LB 1090 could be amended in a way that prevents tax increases for most Nebraskans while also protecting the key services that are essential to our state and its economy.
LB 911, a bill that will be the focus of a Revenue Committee hearing Wednesday, could help reduce our reliance on property taxes by bringing more income tax revenue into the way schools are funded.
See an analysis of LB 1090 and LB 1048, two bills that would help Nebraska's tax code adjust to recent federal tax changes.
See what LB 947's tax changes would mean for some real Nebraska taxpayers.
Faced with continued revenue challenges on the heels of considerable cuts to key services like higher education, the major question LB 947 poses is where do these tax cuts rank in terms of state priorities?
See how LB 461's tax changes would affect our Real Taxpayers of Nebraska.
LB 461, the tax-cut package put forth by the Revenue Committee, is first and foremost an income tax cut for wealthy Nebraskans and the proposal does little to truly address property tax relief.
LB 373 provides an opportunity to examine revenue reductions passed by prior Legislatures in the same way lawmakers review appropriations through the biennial budget process.
