Tax Relief

Governor Ricketts, Income Committee locations tax relief as a legislative precedence

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Press release:

Governor Ricketts, Revenue Committee places tax relief as a legislative priority

Governor Ricketts (on the podium, left), Senator Linehan (on the podium, right) and members of the

The Revenue Committee of the Nebraska Legislature at today’s news conference.

LINCOLN – Today, Governor Pete Ricketts held a press conference with members of the Legislature’s Income Committee in the State Capitol’s rotunda. The governor and finance committee chairman Lou Ann Linehan both urged Unicameral to prioritize tax breaks during their 60-day brief session in 2022.

The governor recognized the ability to control spending to help the state of Nebraska achieve the strong financial position it currently enjoys. He called for excess income to be returned to the Nebraskans through additional tax breaks.

“If we have more money than we need to fund government operations, we have to give it back to the people of Nebraska,” said Governor Ricketts. “This money does not belong to the state government or the legislature, it belongs to the hardworking people of our state.”

The governor praised the Revenue Committee for helping bring historic tax breaks to Nebraskans through laws passed in 2020 and 2021. Governor Ricketts stressed the need to limit increases in local property tax claims in order for Nebraskans to take full advantage of the state’s tax breaks.

Sensing that the state government has funds beyond its needs, Senator Linehan urged her colleagues to support tax breaks to give money back to taxpayers. She also highlighted the need for additional tax cuts to make Nebraska’s tax structure more competitive with surrounding states.

Next week, Governor Ricketts plans to recommend a mid-biennial budget adjustment that includes significant scope for tax breaks.

You can find the full video of today’s press conference here.

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