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Nebraska tax cut proposals get mixed reception in committee

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Posted at 10:20 AM, Jan 28, 2022
and last updated 2022-01-28 11:20:04-05

LINCOLN, Neb. (AP) — Proposals to cut Nebraska’s top income tax rates for individuals and corporations are receiving strong support from the business community, but some groups question whether they would benefit the economy.

Both measures were presented Thursday to the Legislature's Revenue Committee.

Business groups argue that the tax cuts would make Nebraska more attractive to companies, especially when compared with neighboring states that are all lower except for Iowa.

But the bill faced criticism from the OpenSky Policy Institute, a tax-policy think tank that is often critical of measures that reduce state of revenue. The measures are a top priority of Gov. Pete Ricketts.

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