Politics & Elections
Fri March 23, 2012
Nebraska lawmakers debating smaller tax cut plan
An amended version of Governor Dave Heineman’s tax cut plan is awaiting second-round debate in the Unicameral.
The tax cut plan passed the first round of debate earlier this week. Governor Dave Heineman originally called for $327 million dollars worth of tax cuts over three years. In addition to income taxes, the plan would’ve cut corporate income taxes and ended the state’s inheritance tax.
Senator Lavon Heidemann, chairman of the Legislature’s Appropriations Committee, says the amended plan is now $97.2 million. The inheritance tax remains part of state law.
An analysis of the tax cut plan by the nonpartisan economic research firm Open Sky Policy says 64 percent of Nebraskans who make less than $20,000 dollars a year would see no tax relief.
The Unicameral is scheduled to adjourn the second week of April.