155
Nebraska lawmakers introduced 155 measures in the first two days of the legislative session. Bill introduction continues through January 17 (Day 10). Among the bills introduced on Thursday was a proposal by Sen. Terrell McKinney (LB 924) to expand the state’s Homestead Exemption, a program currently available to people over age 65, veterans and the disabled based on income and the value of the property, to include residents of certain census tracts based on household income.
Redlining, which originated when the federal government declined to guarantee home mortgages to people living in specific neighborhoods, was banned in the 1960s but continues to have an effect on neighborhoods through depressed property values which in turn influence the resources available to local governments.
Read more on history of redlining in OpenSky’s property tax primer
78%
America’s 741 billionaires are now worth a record $5.2 trillion. Billionaire wealth has grown 78% since passage of the 2017 Tax Cuts and Jobs Act, which cut taxes for the wealthiest families and corporations.
A tax system allowing taxes on wealth to be lower than taxes on paid work puts workers at a disadvantage, expanding economic and racial inequalities. At the federal level, long-term capital gains are taxed at a rate of 23.8%, compared to a top rate of 37% on earned income.
Read more from Americans for Tax Fairness
Read Op-Ed published by American Bar Association
33
Ahead of a year-end deadline, 33 states opted into a program that would provide $40 in grocery benefits over each summer month to families of students who are eligible for free or reduced-price lunches at school.
Nebraska declined to participate, but a bill proposed by Sen. Jen Day (LB 952) would require the state’s Department of Health and Human Services to apply for the Summer EBT program. Estimates are that low-wage families in Nebraska could receive $18 million in federal funds each year through the program, with the administrative cost split between the federal government and the state. Nebraska’s cost has been estimated at $300,000 annually.
Summer EBT programs help ensure kids have consistent access to nutritious food when school is out. Pilot programs and EBT programs implemented during the public health emergency have shown promising results in not only reducing child hunger but improving quality of diet as well.
Read more from the Nebraska Examiner
Number crunching
- 216,000: The number of jobs added nationwide in December, exceeding projections in the neighborhood of 175,000. Wages, meanwhile, increased by 0.4%.
- 15.6 million: The number of new vehicles purchased nationwide in 2023, a 12% increase over 2022.
- 8.2 million: The number of interstate movers between 2021 and 2022, defined as Americans who lived in a different state than the prior year.
- $90,000: The cost for the state of Nebraska to purchase 90 acres of land in Colorado, its first purchase of land in connection with the $628 million Perkins County Canal project.
We’re hiring
OpenSky is excited to host a State Policy Fellow through the Center on Budget and Policy Priorities for the next two years. This is a great opportunity for an early career professional to conduct serious policy analysis and research in the areas of health care, taxes and education with real-world applications.
The deadline to apply is February 29, and those interested should plan to join an information session on January 25.