Thu March 27, 2014
Nebraska lawmakers pass 3 tax reform measures
LINCOLN, Neb. (AP) — Nebraska lawmakers have passed a series of tax measures that would benefit farmers, low-income elderly homeowners and residents whose incomes rise with inflation.
The three tax proposals won final approval on Thursday, and will now be sent to Gov. Dave Heineman.
One bill would eliminate the sales tax that farmers pay when repairing or replacing their ag equipment.
A second proposal would expand Nebraska's homestead exemption program so that more Nebraskans could qualify. The tax exemption is given to seniors, disabled veterans and their spouses, and people with certain disabilities.
A third measure would ensure that Nebraska's income tax brackets keep pace with inflation. The bill seeks to address cost-of-living salary increases that can bump taxpayers into a higher bracket, where they end up paying more.
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