Nebraska netted $453 million in taxes in January, annual revenues higher than before pandemic
Nebraska’s January state tax revenue report was released this morning and it shows a very strong picture for the Cornhusker State, despite some in Washington continuing to claim that states need more federal aid. January net receipts were $453 million. That is 19.1% above the forecast. Net Sales and Use: 14.5% above forecast Net Individual...
What would Nebraskans do if more of them were connected to broadband? A new poll suggests most might video call their elected officials about high property taxes. Jim Vokal reviews the poll, and Adam Weinberg covers the less-discussed aspects of broadband deployment with Will Rinehart, Senior Research Fellow at the Center for Growth and Opportunity...
Poll shows Nebraskans favor more action on property taxes
Revenue Committee Chair Sen. Lou Ann Linehan is beginning to set an agenda for tax modernization in the 2021 Legislature. In a news release from her legislative office, the Elkhorn-area senator pointed to a recent Tax Foundation report that provides backing for a number of policy ideas her colleagues have introduced, including requiring voter approval...
Lawmakers are looking at policies helping Nebraskans in the pandemic and whether to make them permanent. We discuss Sen. John Arch’s telehealth-related LB400, Sen. Tom Briese’s proposal for universal licensing recognition with LB263, and introduce Nebraskans who have been helped by recent changes. Resources mentioned on this podcast: Pediatric Therapy Center The Knee Center for...
Nebraska posting strong revenues in nationwide study of pandemic impact
Nebraska has posted strong state tax revenues during the pandemic, yet many in Washington D.C. keep calling for more state aid. Is Nebraska an outlier or are other states doing as well as the Cornhusker State? According to data collected and published by the Reason Foundation, the revenue shortfalls for state and local governments are...
Rural states are keeping a closer eye on business equipment taxes
Last year, agriculture groups warmly received the Nebraska Legislature’s passage of a major tax package providing income tax credits for school property taxes paid on real estate, like homes, buildings, and farmland. Less reported, though, is that to help pay for the change, the Unicameral also ended a different type of property tax relief impacting...
A transparency proposal in the Legislature would prevent taxpayers from being blindsided by local property tax increases, and give them more of a voice in the process that decides their tax bill. You can find more free tips and resources about Truth in Taxation at PlatteInstitute.org/Truth. Nebraska Truth in Taxation Resource Page
Nebraska closed 2020 with lowest unemployment rate, but workforce challenges remain
In December, Nebraska’s state unemployment rate remained the country’s lowest at a preliminary rate of 3%, matching neighboring South Dakota for the top spot, according to figures released by the Nebraska Department of Labor and the U.S. Bureau of Labor Statistics (BLS). Non-farm employment increased by 5,394 for the month, which the Labor Department called...
Unicameral releases new online feature for public comments
The Nebraska Legislature has rolled out a new way of soliciting public comment on bills being heard before legislative committees. In the past, if members of the public wished to make their opinion on a bill known, they had to trek to Lincoln on the day of the hearing, sign in as “For” or “Against”...
Iowa advances bill to repeal inheritance tax while Nebraska focuses on reform
Bill introduction has ended for the 2021 Nebraska Legislature, and two bills were filed to reform Nebraska’s antiquated, and increasingly uncommon, inheritance tax. In fact, yet another neighboring state might soon ditch its own inheritance tax. SSB 1026, which would repeal Iowa’s inheritance tax if approved, was advanced unanimously from an Iowa Senate subcommittee. It...
Senators have introduced hundreds of bills in the new legislative session. We discuss 21 of them that we’re supporting to remove barriers for Nebraskans in 2021. Resources mentioned in this episode: The Platte Institute’s Take Action Page Find Your Senator Wyoming Legislature considers universal recognition of occupational licenses Bills discussed in this episode (listed by...
Wyoming legislature considers universal recognition of occupational licenses
Occupational licensing reform has been one of the hot topics in state legislatures throughout the country for the last five years or so. What started out as an effort to chip away on excessive or no-longer-needed occupational regulation has turned into a state-by-state, nationwide effort to reform the way that we think about licensing jobs....
Nebraska issued $112 million in tax refunds in December
Nebraska gross tax revenues for the month of December were overall very strong. Every category was above forecast for the month except for gross personal income tax, which was 3.4%, or $7.6 million, below forecast. When we look at the fiscal year net revenues, Nebraska remains ahead of projections. The state is currently 7.9% or...
State of the State emphasizes taxes and licensing reform
In his State of the State Address, Gov. Pete Ricketts outlined his priorities for the next two years during the 107th Nebraska Legislature. He started by proposing only a 1.5% growth rate to the state’s budget while highlighting areas including property tax relief, making Nebraska more welcoming to veterans and the military, job licensing reform, public...