Think Tank praises tax committee options

Open Sky Policy Institute says options for tax changes put forth by the Legislature's Tax Modernization Committee present a real opportunity to strengthen Nebraska and its economy. The Committee will hold the first of their statewide public forums Monday at the Harms Center from 4-7 p.m.

Renee Fry, Director of the non-profit and non-partisan fiscal policy think tank, says some of the options put forth by the committee "have the potential to create powerful tax reform that benefits all Nebraskans."

Fry pointed at options to broaden the sales tax base will help bring the state's tax code up to date with today's service-based economy and generate more revenue that can be used to help lower property taxes.

Fry says increasing state aid for K-12 education and local governments will lower property taxes and the use of circuit breakers, which provide income tax credits to those who pay high property taxes in relation to their incomes, will truly help Nebraskans who need property tax assistance.

Open Sky on Tax Committee options ....9/20/2013

A Nebraska think tank believes options recommended by the Legislature's Tax Modernization Committee present an opportunity to benefit all Nebraskans.

Renee Fry, Director of the non-partisan fiscal research group Open Sky Policy Institute, says options to broaden the sales tax base will help bring the state's tax code up to date with today's service-based economy.

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Fry says increasing state aid for K-12 education and local governments will lower property taxes and the use of circuit breakers, which provide income tax credits to those who pay high property taxes in relation to their incomes, will truly help Nebraskans who need property tax assistance.

Open Sky on Tax Committee options ....9/20/2013

A non-profit Nebraska fiscal research group says some of the options proposed by the Legislature's Tax Modernization Comittee offer real opportunities for property tax relief.

Renee Fry, Director of the non-partisan fiscal research group Open Sky Policy Institute, says increasing state aid for K-12 education and local governments has proven to lower property taxes. Fry says providing income tax credits for those unfairly taxed is also welcome.
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Fry says options to broaden the sales tax base will help bring the state's tax code up to date with today's service-based economy and also provide property tax relief.

Fry says cutting income taxes and taxing capital gains at a lower rate would take needed revenue without offering benefit to the state as a whole.

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