State tax collections are $650 million more than compared to last year, even with the delayed tax filing deadline
The April 2021 state tax revenues have been published, and overall, it’s good news again. The revenues are broken down into two measures, one for the month and another for the fiscal year. For the month of April 2021, the revenues do not meet the state’s expected forecast of revenue – however, this may be...
Nebraska ranks 35th in national economic outlook according to policy group
Every year, the American Legislative Exchange Council (ALEC) releases their economic outlook rankings for states. The Rich States, Poor States ranking incorporates 15 different policy variables to look at the 50 states and determine their economic outlook. This is essentially a forecast for each state. Since 2008, Nebraska has remained relatively steady in the outlook...
Taxpayers Beware: 3 Issues You Should Be Concerned About in Nebraska
Do you think Nebraska taxpayers would like to pay $1 billion more in taxes each year? Unfortunately, some groups and policymakers in our state have pushed for this without many people even knowing about it. That’s why experts at the Platte Institute go down to the Capitol to testify against expensive policies threatening economic opportunity...
Treasury issues guidance on Federal relief package and some of the rules might impact Nebraska
The U.S. Treasury has issued guidance as a follow-up to the American Rescue Plan Act (ARPA) that was enacted by Congress on March 11, 2021. As background, Congress enacted ARPA as a continuation of their previous relief packages to help the nation recover from the COVID-19 pandemic. In total, there was $350 billion spent for...
Montana enacts pro-growth tax cut and now has lower rates than Nebraska
According to the 2020 U.S. Census figures, Montana grew 9.6% over the last ten years, and as a result has gained an additional congressional seat. The last time the state had two U.S. House seats was in 1992. In the wake of the good news, Montana Gov. Greg Gianforte decided it is time to continue...
Studies suggest hope for rural Nebraska requires cutting red tape
A series of stories and studies released recently suggest a grim future ahead for rural Nebraska if the state, counties, and cities don’t make it easier for young people to return to their hometowns. A recent analysis of census data shows that 78% of the counties in Nebraska (or 72 of the 93 counties) lost...
In an attempt to create compromise between the Iowa House and Senate, Governor Kim Reynolds offered a plan on Wednesday, May 5 to cut taxes in the Hawkeye State by $400 million. How is she doing this? She has proposed shifting the funding for county mental health from local property taxes to the state’s general...
Consumption tax proposal to eliminate Nebraska property taxes fails to advance
If you listened to the Nebraska Legislature debate today you would have heard the following quotes from multiple members: “Our tax code is antiquated and was written in a time before the internet existed and before people and businesses were as mobile as they are today.” “People are mad about their property taxes.” “Nebraska can...
The U.S. Small Business Administration’s Nebraska District Director, Leon Milobar, joins Jim Vokal to discuss resources available to small businesses impacted by the pandemic, and even Nebraskans who are still thinking about getting into business. Mentioned on this episode: Nebraska SBA District Office SCORE Small Business Mentoring SBA Office of Advocacy GROW Nebraska Women’s Business...
Laura Ebke talks job licensing and Truth in Taxation on LIBA livestream
Platte Institute Senior Fellow Laura Ebke joined Bud Synhorst of the Lincoln Independent Business Association to discuss Nebraska’s progress on job licensing reform and an advancing property tax transparency measure.
Sarah Curry joins Jim Vokal to discuss a week full of tax policy-related proposals in Lincoln. Mentioned on this episode: Nebraska forecasting board increases two-year revenue projections LB644: Truth in Taxation – Direct Notification of Property Tax Increase Hearings
Nebraska’s Economic Forecasting Advisory Board met today to confirm the state’s positive outlook on tax collections. Because the state of Nebraska operates under a biennial, or two-year budget, the forecasting board only holds it April meeting every other year. Their annual meetings occur in October and February. This meeting was different from most because of...
Tax attorney, community philanthropist, bring new perspectives to Platte Institute board
Jo Ellen Stock, Assistant Vice President of State and Local Taxes for Union Pacific, and Lori Scott, an Omaha-area philanthropist with a background in education and health care, have been elected to the Platte Institute’s board of directors. The board of directors currently has 11 members who are responsible for overseeing the organization’s mission and...