$80 million
After reviewing revenue forecasts from the state Department of Revenue and Legislative Fiscal Office suggesting that the state’s tax receipts would fall short of earlier forecasts for the upcoming biennium by a combined $100 million, the Nebraska Economic Forecasting Advisory Board adopted higher projections on Wednesday. Board members added a total of $80 million to the forecast for the next two years, essentially offsetting the $80 million decrease in net receipts anticipated in the current fiscal year. The forecast guides the Legislature in determining how much it has available to spend while maintaining a balanced budget.
Read the full story from the Omaha World-Herald
12.1%
The latest statistics show some slight improvement, but 59,447 Nebraska children – 12.1% of the state’s kids – are growing up in households with incomes at or below the federal poverty line. The information is included in the latest Kids Count data compiled by Voices for Children in Nebraska, which notes the persistent racial disparities among family incomes over 30 years of reporting. The data highlights the importance of policy decisions that improve opportunities for all Nebraska families.
‘Fiscal cowardice’
In commentary published by the Nebraska Examiner, former state Sens. Curt Friesen and Paul Schumacher questioned the sustainability of tax cuts being debated in the Nebraska Legislature. “Kicking the responsibility of a starved state government to future senators is fiscal cowardice,” they wrote. Proposed personal and corporate income tax cuts and dollar-for-dollar property tax relief would cost the state $2 billion in revenue by 2029. The state’s entire general fund budget is just over $5 billion.
Read the full commentary published by the Nebraska Examiner
$8,037
In Kansas, lawmakers this week failed to override Gov. Laura Kelly’s veto of a flat tax package where two-thirds of the benefits would have gone to wealthy households among the top 20% of income earners. For the richest 1% of households, that amounted to an average tax cut of $8,037 and offered a reminder of cuts made in Kansas during the Brownback administration that are still frequently mentioned across the country.
View a report from the Institute of Taxation and Economic Policy
10,000
Approximately 10,000 families facing food insecurity in Nebraska would continue to receive Supplemental Nutrition Assistance Program benefits if the current eligibility threshold is extended for two years.
Learn more about protecting SNAP eligibility benefits
Stay engaged
At noon Monday, join OpenSky, the Coalition for a Strong Nebraska, the Nonprofit Association of the Midlands and the Nebraska Civic Engagement Table for an hour-long webinar featuring a discussion of the Legislature’s proposed budget bills. Guests will include Sens. Anna Wishart and Myron Dorn, both members of the budget-writing Appropriations Committee.