Home Local News NEBRASKA TAX CUT PACKAGE FAILS IN UNICAMERAL

NEBRASKA TAX CUT PACKAGE FAILS IN UNICAMERAL

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A tax cut package backed by Nebraska Gov. Pete Ricketts has stalled in the Legislature.

Supporters on Tuesday failed to overcome a filibuster led by opponents who argued it would have favored the wealthy and not done enough for agricultural land owners.

Lawmakers voted 27-9 to end legislative debate, six short of what was needed.

The plan would have lowered Nebraska’s top personal and corporate income tax rates, adjusted the way agricultural land is valued for tax purposes, capped statewide property tax growth and expanded the earned income tax credit for low-income residents.

Sen. Jim Smith of Papillion, who sponsored the bill, says it illustrates how difficult it is to pass income tax legislation in the Legislature.