OpenSky statement on Friday’s Tax Modernization Committee hearings
Below is a statement from OpenSky Policy Institute Executive Director Renee Fry about Friday’s meeting of the Tax Modernization Committee:
“We were glad to hear committee members have expressed reluctance to use the cash reserve for tax cuts. The reserve was designed to help the state respond to dips in the economy and our strong reserve served us well in the last recession. If it were used for tax cuts, the reserve would be quickly depleted and the state would be left without a safety net the next time the economy took a downturn. This could lead to cuts to schools and other key services Nebraskans need.”