We have a brand new updated website! Click here to check it out!

Revenue Committee Advances Amended Tax Cut Plan

LINCOLN, Neb. (AP) — A scaled-back version of Gov. Dave Heineman’s tax cut plan has advanced out of a legislative committee.

The Legislature’s Revenue Committee voted 5-3 Tuesday to advance the proposal, despite concerns over whether the state could afford even the smaller amount.

Bellevue Sen. Abbie Cornett said the new proposal would cost the state about $143 million over a three-year period. Heineman’s original proposal would have dedicated $327 million for individual and corporate income taxes, and eliminated an inheritance tax imposed by counties.

The new proposal advanced for debate in the Legislature would cut only individual income taxes, and leaves in place the inheritance tax. Heineman has acknowledged he lacks the votes to pass his full plan in the Legislature.

The vote comes as lawmakers adjust their two-year spending plan.

Copyright Eagle Radio | FCC Public Files | EEO Public File