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Tax plan backed by Ricketts advanced for full debate

A tax package backed by Gov. Pete Ricketts has cleared a
key obstacle in the Nebraska Legislature but still faces resistance from some lawmakers.

Members of the Revenue Committee voted 5-3 on Tuesday to advance the measure for debate in the full Legislature.

The plan would phase in income tax credits for property owners, gradually reduce Nebraska’s top corporate income tax rate until it matches the top rate for individuals, and provide $5 million a year for job-training programs.

Some opponents on the committee say they’re concerned that the plan would draw from the state’s cash reserve fund, and others argued it would be phased in too slowly to make a difference for agricultural landowners who have seen their property tax bills surge.

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