Income Tax Cut Bills table Income tax cut bills would decimate state budget, lead to cuts, property tax hikes

A pair of bills to cut income taxes would blow holes in the state budget, aren’t aimed at the middle class and are not likely to grow the economy. Furthermore, the bills — LB 1097 and LB 721 — likely would lead to higher property taxes and cuts to investments in schools and other key services.

LB 1097 Bar Graph Data show middle class benefit of LB 1097 paltry compared to higher earners

While some proponents of LB 1097 – a bill to cut Nebraska’s income taxes – talk about the bill’s benefit to the state’s middle class, a look at the data shows by far the biggest beneficiaries of the cut would be the state’s highest earners.

TEEOSA8.5 Tax study resources

See a list of resources that can help you follow the Legislature’s Tax Modernization Committee study.

  • Our easy-to-follow primer into Nebraska’s budget and tax process has been updated!

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    Spending line graph with and without vetoes

    Tax cuts account for nearly half of potential new costs, projected spending still below pre-recession levels

    Posted March 31st, 2014 by Chuck

    As of Monday, lawmakers have bills on the floor that would cost the state $414,640,410 through the next biennium if passed. Of that total, $166,266,922, or 40 percent, are for tax cuts.