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Download the PowerPoint presentation we used on our tour around the state this week.
U.S. Sens. Mike Johanns and Deb Fischer were among a strong bi-partisan Senate contingent that voted on Monday to pass the Marketplace Fairness Act – which gives states the ability to collect online sales taxes.
Nebraska loses an estimated $98 million every year to untaxed online and catalog sales. While Nebraskans are legally required to remit use tax through their… (read more)
A decade-long decline in state spending will come to an end if the Legislature’s Appropriations Committee budget is adopted. The committee’s recommendations call for a 5.2 percent average annual increase in General Fund appropriations this biennium, but it’s important to note that appropriations only grew at a 1.1 percent average over the previous four years. As such, the budget would be a small first step toward restoration of support in key budget areas such as education, transportation and infrastructure, and health and human services.
A sign of Nebraska’s strengthening economy came from the Nebraska Economic Forecasting Advisory Board on Thursday as it predicted a $53 million increase over February’s 2013-15 biennium revenue projections. The board also anticipated a $125 million increase in the state’s Cash Reserve Fund – or “Rainy Day Fund” due to a one-time increase in personal income tax receipts, a phenomenon that this Rockefeller Institute report shows many states will experience this year. But the news should be met with cautious optimism.