$15 million
Next week, senators in the Nebraska Legislature will consider a vote to override the Governor’s line-item veto of rate increases in FY 24-25 for hospitals and nursing homes that provide care for Medicaid patients. The annual cost of a 2% increase, $15 million, is less than what the state will give up in revenue to provide $25 million for annual tax credits to individuals and corporations who donate to organizations granting private school tuition scholarships.
Read Omaha World-Herald story on potential veto overrides
$130 million
The state’s $130 million reserve fund of federal dollars allocated for direct assistance through the Temporary Assistance to Needy Families (TANF) program in Nebraska continues to be a target to pay for projects that don’t specifically provide direct assistance to families in need. In a commentary published in the Omaha World-Herald, Sen. Danielle Conrad notes that providing direct assistance is the primary purpose of TANF funding and “gives us the best chance at truly breaking cycles of poverty and giving kids a better start to a brighter future.”
Read Senator Conrad’s commentary
31
Among the 36 states that have reported data, 31 saw decreases in combined personal income tax collections in March and April from 2022 collections, Pluribus News reported. The average state’s tax collections dropped by 29% over the same period last year. In Nebraska, net individual income tax collections reported for March and April were down 43% from a year ago, and this week, senators passed a new package of tax breaks expected to reduce individual income tax collections by $2.75 billion over the next six years.
2 million
With the deadline for an extension of the nation’s debt ceiling nearing, a U.S. House proposal could result in an estimated 2 million people nationwide being left without the rental assistance they need to obtain or maintain stable housing, according to the Center on Budget and Policy Priorities. Nearly all housing and homelessness programs receive discretionary funding that is the target of proposed spending cuts.
Read more from the CBPP report
5.2%
The temporary expansion of the Child Tax Credit in 2021 was integral in slashing the nation’s child poverty rate from 9.7% to a record low of 5.2%, according to research by the Urban Institute and the University of California, Berkeley, Opportunity Lab. This week, OpenSky Executive Director Dr. Rebecca Firestone participated in a webinar focused on the next steps for states. To date, 14 states have enacted or expanded refundable Child Tax Credits. LB 754, passed by lawmakers in Nebraska this week includes a limited child care tax credit for families to help cover child care costs.