The Associated Press on Nov. 16: Federal tax package creates uncertainty for Nebraska budget LINCOLN, Neb. (AP) — Nebraska officials say the tax package working its way through Congress is creating a great deal [...]
The tax plans being considered by Congress would offer big tax breaks to large corporations and the very wealthy, provide modest benefit to middle- and low-income Nebraskans and, in fact, cause many Nebraskans to pay more taxes.
Read more about the House tax plan, the state revenue forecast and the Department of Revenue's Tax Burden Study.
A hypothetical $100 million personal income tax cut would result in a net loss of $95 million in tax revenue and largely benefit Nebraskans with the highest incomes, the study by the Nebraska Department of Revenue found.
NTV on Oct. 30: Economic forecast falls again in Nebraska leading to budget cuts The legislature may go into session under a dark economic cloud as agencies brace for budget cuts. Read [...]
Omaha World-Herald on Oct. 28: Tough decisions on horizon, senator says, after $195 million drop in projected Nebraska tax revenue Gov. Pete Ricketts ordered new belt-tightening steps for state agencies Friday after [...]
OpenSky Executive Director Renee Fry says the state's reduced revenue forecast underscores that Nebraska faces tremendous uncertainty regarding our revenues as we don't have a full understanding how federal tax changes could impact us.
The Associated Press on Oct. 27: Ricketts orders agencies to continue clampdown on spending Nebraska Gov. Pete Ricketts ordered state agencies Friday to continue their clampdown on spending after new revenue estimates [...]
Lincoln Journal Star on Oct. 27: Board forecasts extended lag in tax collections; state facing $195M shortfall Gov. Pete Ricketts and the Legislature will have a task in coming months: Finding how [...]
A hearing regarding Nebraska’s tax expenditures on Thursday and a meeting of the Nebraska Economic Forecasting Advisory Board on Friday will highlight a big week of Nebraska fiscal policy activity.
