Mon February 17, 2014
LB1097 would lower taxes for all Nebraskans
Omaha Senator Burke Harr recently introduced a bill to the legislature that would give all Nebraskans a tax break.
He says LB1097 has three purposes. The first is to raise the tax brackets for individuals.
The second is to lower the tax rates for individuals and the third is to index the tax bracket levels which
Harr says haven’t been changed since 1992.
"Often when we are making tax policy, we create an exemption or a lower rate if you do certain activities and if you don’t do those activities, then you don’t get that tax break. What this does is it applies it across the board.”
Harr says the idea is to get money into employee’s and entrepreneurs’ hands so the money can be reinvested back into the economy.
He says he knows the current form of the bill is not fiscally workable but says he hopes to phase in the tax changes over time as the state experiences growth.
Harr represents Dundee, Benson and Keystone neighborhoods.