The Omaha World Herald’s Josh Reyes details several tax policies currently under consideration in the Nebraska Legislature. Read more here.
Dr. Rebecca Firestone spoke with Fred Knapp of Nebraska Public Media about the importance of maintaining a robust cash reserve to safeguard the state in the event of economic downturn, and underscored the importance of sustainable budget decisions amid an additional $190 million budget shortfall. Click here to read more.
Several members of the OpenSky Policy Institute team attended the final meeting of the Nebraska Economic Forecasting Advisory Board last week and offered comment to the Nebraska Examiner regarding the budget deficit. Click here to read more.
FY 25 – Total The NE Department of Revenue projects Nebraska will collect $190 million less for FY 2025 than the previous NEFAB forecast. FY 26 – Total The NE Department of Revenue projects Nebraska will collect $90 million less for FY 2026 than the previous NEFAB forecast. FY 27
In a few hours, the Nebraska Economic Forecasting Board will meet to adjust revenue projections, a critical step in constructing the biennium budget. Stay tuned for updates on our social media and website. 97.4 The National Federation of Independent Businesses (NFIB), a non-profit, nonpartisan group that advocates for small businesses,
$1.5 billion In a letter this week to state senators, Nebraska’s Auditor of Public Accounts, Mike Foley indicated that the state’s largest business incentive programs are on track to reduce General Fund revenues by $1.5 billion over the next four fiscal years. Foley’s letter highlights the pending fiscal obligations of
47 LB 22, introduced by Senator George Dungan, passed last week with 47 legislators voting to send it to the desk of Governor Jim Pillen for his signature. The legislation directs the Nebraska Department of Health and Human Services to apply to the Centers for Medicare and Medicaid Services (CMS)
$401,538 The Nebraska Department of Education (NDE) was granted an extension in October 2024 allowing additional time to spend down federal funds allocated during the COVID-19 pandemic, specifically those granted under the American Rescue Plan Elementary and Secondary School Emergency Relief – Homeless Children and Youth (ARP-HCY) program. Of the
30 Up to 30 Lincoln children will have the opportunity to attend Prep Academy, a childcare center serving students birth through Kindergarten, at TMCO. The project was given a green light by the Lincoln City Council this week in a unanimous vote. TMCO, which has operated in Lincoln for more
$136.3 Billion The Institute on Taxation and Economic Policy (ITEP) recently released their analysis on the Educational Choice for Children Act, (ECCA) federal legislation introduced by Rep. Adrian Smith of Nebraska to offer dollar-for-dollar income tax credits for charitable donations to nonprofits that distribute vouchers to K-12 private schools. ITEP
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State Budget & Taxes Ensuring the state has the revenue for critical investments and to support its changing economy is vital to Nebraska’s future. Key Resources State Budget Overview “Looking for Clarity,” updated in 2023, offers an unbiased look at Nebraska’s budget process, state spending, state revenue and tax expenditures.
