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Committee close to advancing Nebraska tax cut package

Sen. Jim Smith
Sen. Jim Smith

LINCOLN, Neb. (AP) — A Nebraska legislative committee is close to advancing a tax cut package, but some lawmakers are still objecting to the proposal.

Sen. Jim Smith of Papillion says the Legislature’s Revenue Committee could vote Tuesday on the legislation. The package would lower the state’s top individual and corporate tax rates, expand an earned income tax credit for low-income residents and change the way agricultural land is valued for tax purposes.

Smith says he wanted to wait at least a day before voting to give senators time to consider several new amendments.

Some senators say they’re not convinced the measure will help stimulate the economy, as supporters contend. The package is partially built on Gov. Pete Ricketts’ recommendations for lawmakers.

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