Property tax “circuit breakers” like the one proposed in LB 186 are a way to provide targeted tax reductions to those whose property taxes are high in relation to their incomes.
A look at the data debunks a common misconception regarding Nebraska’s farmers and ranchers and what they pay in taxes.
April Tax Receipts Confirm Sluggish Economy Revenue forecasts only part of the economic picture An announcement by the Nebraska Department of Revenue that April tax receipts were 7.2 percent below the projection [...]
Middle-income Nebraskans pay relatively low taxes compared to their counterparts in eight nearby states with similar economies and tax structures.
OpenSky commissioned the Institute on Taxation and Economic Policy (ITEP) to forecast a hypothetical scenario in which the state cuts its top income tax rate to 5 percent. The analysis showed about 40 percent of the tax cut would leave the state.
Corporate income tax cuts don’t cause economic growth Download a printable PDF of this report. Reducing corporate income taxes in Nebraska is not a strategy that will lead to more jobs and [...]
For numerous reasons, claims that reducing the personal income tax in Nebraska will promote economic growth are unsubstantiated. Whether one looks at overall economic growth, employment levels or small-business job creation, data from across the United States show no clear relationship between personal income taxes and a state’s economic well-being.
Governor's Budget Proposal Does Little to Restore Cuts to K-12 Schools The budget proposal outlined by the governor today would do little to help schools make up for deep cuts experienced in [...]
