Legislature rejects LB 461, will debate mainline budget on Wednesday
The Nebraska Legislature on Tuesday rejected LB 461, the Revenue Committee’s tax package, which would have provided large income tax cuts to wealthy Nebraskans and created revenue losses that would harm schools and other vital services.
The bill died as there were not enough votes to end a filibuster.
Fiscal talk continues Wednesday as the Legislature takes up second-round debate on LB 327, the mainline budget bill. The measure passed through first-round debate on a 31-1-11 vote but in light of last week’s revenue forecast, which was revised downward by $55 million, we expect to see significant changes to the bill discussed during debate.