Tax Relief

Extra of $ 400 million is alleged to learn tax breaks

“Give the taxpayers the money back.” That is the message from Governor Pete Ricketts and Legislature Revenue Committee Chairman Lou Ann Linehan, should the state coffers overflow nearly $ 400 million. “Nobody should come into this session thinking we’re going to be spending a lot more.” Money, “Ricketts said. Linehan said Nebraska is not competitive with other states in taxing citizens or corporations.” We have $ 400 million right now. That is likely to rise when the forecasting committee meets in February. There’s no reason it’s morally unacceptable to keep $ 400 or $ 500 million in tax dollars that we don’t need, “Linehan said. There are no details of tax cuts yet. Both the governor and Linehan said however Legislators could expedite the abolition of the welfare tax. Senators passed LB 64 last year. It will cut the tax on welfare benefits in half over the next five years, but Linehan said this could be completed next year and there is an opportunity to abolish it completely stay here, “Linehan said. She and Ricketts said they could reconsider the plan to cap property taxes for school districts at 3%. The measure was only four votes short of last year. The OpenSky Policy Institute urges extreme caution. The bipartisan group’s executive director Rebecca Firestone said Nebraska’s economy is currently being bolstered by the inflow of federal dollars. “These measures could force us to make painful cuts to schools, roads and other real farm farmers when the federal dollars cease to flow,” said Firestone. “And fails to get to the heart of the problem, which is the lack of government support for local governments and the vital services they provide to the Nebraskans,” Firestone said. Ricketts said he funded state aid to education in full in every budget. Relief goes into people’s pockets, “Ricketts said. Linehan said the tax cuts are sustainable and crucial.” So if we want young people in Nebraska, we need ours Change tax structure. A third of your home payment cannot be property tax. And you can’t be in the highest. “Tax bracket at $ 28,000. We have a tax problem,” Linehan said. The governor said he would present his budget during his state address next Thursday.

“Give the taxpayers the money back.”

That is the message from Governor Pete Ricketts and the chairman of the Legislature’s Revenue Committee, Lou Ann Linehan, should nearly $ 400 million flow into the state coffers.

“Nobody should come into this meeting thinking that we’re going to be spending a lot more money,” Ricketts said.

Linehan said Nebraska does not compete with other states in taxing citizens or corporations.

“We currently have $ 400 million. That will likely increase when the forecasting committee meets in February. There’s no reason, it’s morally unacceptable to keep $ 400 or 500 million in taxpayers’ money that we don’t need,” Linehan said.

There are still no concrete tax cuts.

However, both the governor and Linehan said lawmakers can expedite the removal of the welfare tax.

Senators passed LB 64 last year. It will cut the tax on social security benefits in half over the next five years, but Linehan said this could be completed next year and there is an opportunity to abolish it entirely.

“They want people who have to spend money and take care of their grandchildren to stay here,” Linehan said.

She and Ricketts said they could reconsider the plan to cap property taxes for school districts at 3%.

The measure was only four votes short of last year.

“This will be an important part of any tax break program,” said Ricketts.

The OpenSky Policy Institute urges extreme caution.

The bipartisan group’s executive director Rebecca Firestone said Nebraska’s economy is currently being bolstered by the inflow of federal dollars.

“These measures could force us to make painful cuts to schools, roads and other real farm farmers when the federal dollars cease to flow,” said Firestone.

She said capping property tax increases for schools was a punishment.

“And fails to get to the heart of the problem, which is the lack of government support for local governments and the vital services they provide to the Nebraskans,” Firestone said.

Governor Ricketts said he had fully funded state aid for education in every household.

“I have no problem spending money on education, but the educational institution needs to take control of how quickly these requests rise so we know that the money we give to support is going into people’s pockets,” said Ricketts.

Linehan said the tax cuts were sustainable and critical.

“So if we want to have young people in Nebraska, we have to change our tax structure. A third of your house payment cannot be property tax. And you can’t be in the top $ 28,000 tax bracket. We have a tax problem, ”said Linehan.

The governor said he would present his budget during his state address next Thursday.

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