Nicole Fox joins Jim Vokal to discuss an advancing proposal to notify Nebraska taxpayers about potential property tax increases. Resources mentioned on this episode: Poll shows Nebraskans favor more action on property taxes LB644: Truth in Taxation – Direct Notification of Property Tax Increase Hearings
Unemployment figures for the states were released for February 2021. Nebraska remains one of the national leaders at only 3.1% unemployment, following Utah and South Dakota at 3% and 2.9%, respectively. This is 0.1% points down from January and 0.1% up from the unemployment rate in Nebraska before the pandemic in February 2020. In February...
Nebraska’s already running a revenue surplus, but more federal funds are on their way for the state and local governments. Sarah Curry outlines five ways the money can be used to give Nebraska more flexibility for its future economic and financial goals. Read more about the Platte Institute’s recommendations for using federal relief in Nebraska...
Nebraska will receive around $5 billion from the American Rescue Plan Act (ARPA), the latest round of COVID relief enacted by Congress. Nebraska state and local governments were allocated more than $2.3 billion. Of that amount, the state of Nebraska will receive $1.1 billion, counties will get $375.2 million, and municipalities will be given $292...
Just days after the American Rescue Plan Act (ARPA) passed both houses of Congress and was singed into law by President Biden, many started questioning various provisions in the legislation. The one that has given the most pause is the provision that says states cannot cut taxes if they take relief money. A group of...
Executive Summary Public pension debts from three major municipal plans in Nebraska are approaching $1 billion, and an analysis of Omaha’s two municipal systems and Lincoln’s public safety plan suggest that this shortfall is likely to continue to expand unless policymakers make meaningful changes to how the city funds and manages the retirement plans. In...
The Platte Institute follows the action on most occupational licensing bills moving through the Legislature, as well as legislation introduced in other states. Since we’re just past half-way through the 90-day legislative session, a progress report seems in order. Sen. Rita Sanders’ LB389, introduced at the request of the governor, is moving through the Legislature...
This week, the IRS announced that Tax Day is being pushed back to May 17 to give Americans more time to prepare and pay their federal taxes, and in a news conference, Gov. Pete Ricketts announced that the Nebraska Department of Revenue will follow suit. The extension for filing and payment is for everyone except...
It’s no secret Iowa has high taxes and an outdated tax code. Their state legislature recognized that when it enacted a tax reform package in 2018 that phased in changes to modernize their tax system. Iowa did a lot of what Nebraska lawmakers aim to do: Reduce top tax rates, expand the sales tax base,...
Today marks Day 46 of the 90-day long first session of the 107th Nebraska Legislature. As the Legislature embarks upon the second half of the session, I thought I’d highlight where things stand for bills that impact the economic opportunities and freedoms the Platte Institute strives to promote. You may recall in a March 9 blog post...
A letter signed by 21 state Attorneys General, including Nebraska, was sent to Treasury Secretary Janet Yellen explaining their concern over the unconstitutionality of restrictions regarding the indirect use of COVID-19 relief funds. In section 9901 of the American Rescue Plan Act (ARPA), there is a provision that forbids states from using the COVID-19 funds...
Sarah Curry joins Jim Vokal to discuss a confusing provision of the new federal relief plan, how the U.S. Treasury’s interpretation of the law might impact the ability of states like Nebraska to make their own tax and budget decisions, and what the Platte Institute is doing about it. Listen here.
President Biden signed the American Rescue Plan Act of 2021 (ARPA) into law shortly after its passage in Congress on March 11. While the plan is overwhelmingly popular with the American people, there is a small provision in the legislation causing some uncertainty and concern for Nebraska. Under ARPA, states are eligible to receive a...
Nebraska’s state tax revenues have posted strong positions just one year after the historic nationwide shutdown for the COVID-19 pandemic. According to the most recent Nebraska Department of Revenue news release, gross revenues for the month of February were $617 million or 24.2% above the certified forecast. However, the bigger surprise is that net revenues...