2 Nebraska governor hopefuls unveil tax cut plans

Jan 7, 2014

LINCOLN, Neb. (AP) — Two Republican candidates for Nebraska governor have unveiled tax-cut proposals that they'll introduce as state senators, once the Legislature convenes.

Senators Beau McCoy and Charlie Janssen announced their plans Monday, as lawmakers prepare to begin a new session.

Both plans would reduce the taxable value of farm and ranch land to 65 percent of market value, from the current 75 percent. They also would increase funding for the state's property-tax credit program.

Janssen says his bill would cut income tax rates and exempt Social Security and military retirement income from taxation. McCoy says he will work to achieve those goals through bills already introduced in the Legislature.

Four other candidates are running: Omaha businessman Pete Ricketts, State Auditor Mike Foley, state Senator Tom Carlson and Omaha tax attorney Bryan Slone.

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