Tom Henning, a Kearney-based food industry executive, serves on the Nebraska Economic Forecasting Advisory Board, which projects how much tax revenue the state will bring in each year. He joins Jim to discuss the latest revenue numbers, how the board uses economic data to make its estimates, and what current economic trends suggest may be...
While the nation sits at a 4.6% unemployment rate, Nebraska’s October unemployment rate again sets a new state and national record for the lowest rate at 1.9%. One year ago, Nebraska’s rate was 3.6%. It is important to note that the number of people unemployed in the state is far below the number of job...
Over the last few months, Nebraska’s tax revenues have been exceeding expectations, and now for the month of October they are meeting expectations. This doesn’t mean the state has slowed in its post-pandemic growth. Just a few weeks ago, the Nebraska Revenue Forecasting Board revised the state’s expected revenue forecast, increasing the total by $475...
CPA Jim Greisch discusses why more than $50 million in property tax relief credits have gone unclaimed so far, and the alternatives offered by Blueprint Nebraska’s tax modernization plan. A transcript of the discussion is available below. You can watch the video on YouTube or listen to the podcast episode on Apple Podcasts or Spotify. Mentioned on this episode:...
The Platte Institute, The Flatwater Free Press, and Code for Nebraska have published an online, searchable database of state government workers and their salaries. You can find the site anytime at salaries.flatwaterfreepress.org. The Platte Institute has long prioritized good governance in all our policy initiatives, and one of the fundamental principles of good governance is openness...
Today, the Nebraska Revenue Forecasting Board convened to meet its statutory obligation to update the state’s revenue estimates. These figures will be used when the Legislature convenes in January 2022 until the forecast is updated again at the end of February. The theme in today’s meeting was inflation—the impact it will have on the state’s...
The Government, Military, and Veterans Affairs Committee of the Nebraska Legislature held a hearing today on an interim study resolution, LR191, sponsored by Sen. John McCollister. LR191’s purpose was to explore the effect that universal recognition would have on groups that have traditionally faced barriers to occupational licensing, like those with military experience, low-income residents...
In a late 2020 Nebraska Legislature session delayed by the COVID-19 pandemic, senators enacted a new property tax relief program under Legislative Bill 1107. The program created a state income tax credit that went into effect for the 2020 tax year. Nebraska real property owners were able to file in 2021 and receive credit from...
Ian Swanson of KFAB News hosted Jim Vokal and Mike Beyer to discuss universal recognition for licenses, career experience, and military specialties workers bring from outside Nebraska. Listen to “Jim Vokal – CEO of the Platte Institute” on Spreaker.
Valentine, Nebraska Mayor Kyle Arganbright, Dr. Emily Hamilton of the Mercatus Center, Kathy Mesner of Mesner Development, and Grace Thomas of the Verdis Group and Omaha’s Missing Middle Housing Campaign discuss the role housing will play in the growth of Nebraska communities, and in some cases, their economic survival. This webinar is also available in...
In August, Nebraska saw its lowest unemployment rate since the state started keeping records of unemployment data in 1976. At 2.2%, the August rate was also the lowest in the nation. Nebraska’s September unemployment figures have now been released and the state is again posting the lowest unemployment rate in the nation and the lowest rate...
With more than 50,000 jobs currently available in Nebraska, Jim discusses ways to remove barriers to welcoming more workers to Nebraska with Navy veteran and Nebraska-licensed electrician Mike Beyer. A transcript of the discussion can be found below. You can watch the video on YouTube or listen to the podcast episode on Apple Podcasts or Spotify. Jim...
Nebraska’s September state tax revenue collections continue to be positive, as all major tax types (sales, personal income tax, and corporate income tax) are posting above forecast. The only tax type not to meet its expected forecast are miscellaneous taxes. This tax category includes cigarette and tobacco taxes, the state tire fee, mechanical amusement device...
There have been a lot of tax changes at the state and federal level in the last few years, one of which is the taxation of foreign income, otherwise known as GILTI. GILTI stands for Global Intangible Low-Taxed Income. It’s a category of income that is earned abroad by U.S.-controlled foreign corporations and is subject to special treatment under...