Anyone who claims Nebraska’s high tax revenues are an anomaly has not been paying attention.
Years of incremental tax reform, combined with consistent state spending discipline, has been a driver of historically high tax revenues. This was true before the pandemic, and it’s true now. Nebraska’s revenue forecasts are now north of $6 billion for the next fiscal year, while our state budget hovers under $5 billion.
Our economy is growing. But it has much more potential to grow if we do more to address our workforce and tax issues.
This year, Nebraska’s leaders can address the high tax burden stifling productivity, investment in our businesses and workforce talent and quality of life in our communities for our Nebraska families.
Governor Jim Pillen’s tax plan will put Nebraska on the map of lower-tax states at long last, with a top income tax rate of 3.99%, exemptions for social security and military retirement income, and finally addressing high property tax in a serious way. Passing these bills must be a priority for our legislators.
People are also reading…
Why? Because the economic future of our state for our children and grandchildren is dependent upon remaining competitive for talent, jobs and economic growth.
We still have a way to go before reaching our full growth potential. But think how far we’ll get if we give those extra tax dollars back to Nebraskans. After all, it’s their hard-earned money, and our consistently high revenues show that they have been over-taxed for quite some time.
Recently, we’ve seen strong economic growth. We’ve seen state coffers grow. Let’s keep the momentum. Let’s put the pedal to the metal on tax relief for Nebraskans and truly accelerate our state.
Completing the necessary investments in income and property tax relief, combined with investments in education, will be game changers in unleashing our economy, keeping Nebraska sectors competitive globally and delivering new opportunities for families.
The future of Nebraska’s economy, communities and families depends on it.
Lily Harper writes, “Feminine hygiene products should be completely free and accessible to anyone who menstruates, no exceptions.”
Rebecca S. Fahrlander, Ph.D., writes, “Bullying on any level is dangerous as it undermines both individual autonomy/safety and the basic social order.”
On Feb. 21, 2023, I attended a community meeting hosted by Omaha Public Power District (OPPD) at Florence City Hall. I recently moved to the F…
Richard French, M.D., writes, “So is gender fluid, and is transgender also fluid, or is it uniquely immutably fixed? Both cannot be true.”
After decades of quietly serving as one of Omaha’s secret gems, the Blackstone neighborhood has reemerged as one of the city’s most dynamic areas.
Bishops Scott Barker and Scott Johnson write, “It is plain to see by bills filed in the Nebraska Legislature and across the country that justice and peace for the LGBTQIA+ community and those who care for them are currently under attack.”
Erin Grace writes, “The threat picture in the U.S. is indeed dark, with adversaries, inspired by foreign and domestic violent extremist groups, intent on committing violence and harming innocents.”
Jason Ball is the president of the Lincoln Chamber of Commerce. Tim Burke is the interim president and CEO of the Greater Omaha Chamber of Commerce. Bryan Slone is the president of the Nebraska Chamber.
/cdn.vox-cdn.com/uploads/chorus_asset/file/25724877/Super_Nintendo_World.png "The next Nintendo Direct is all about Super Nintendo World’s Donkey Kong Country")
