Hearings begin on income and corporate tax plans
Hearings begin Wednesday on two bills that could eliminate Nebraska’s individual and corporate income taxes.
Governor Dave Heineman wants lawmakers to do away with both taxes, saying it would improve the state’s business climate. One measure would eliminate both taxes by ending $2.4 billion in sales tax exemptions. An alternative package would eliminate $395 million dollars in sales tax exemptions.
Omaha Mayor Jim Suttle says the city is opposed to the tax proposals. But he says he isn’t opposed to the idea of tax reform, so long as the discussion includes all stakeholders. "That includes the urban industry, the ag industry, labor. We need the nonprofits engaged at the table, and the average citizens who are there who are on fixed incomes and in the middle class stepping forward too, and local government needs to have a seat at the table too on what this means for them."
Suttle says he’s concerned that job creation could be jeopardized if the tax proposals are approved.
The Greater Omaha Chamber of Commerce is officially taking a neutral position on the tax measures.