Reduced Tax Cut Plan Advances

By: Associated Press Email
By: Associated Press Email

A scaled-back version of Nebraska Governor Dave Heineman's tax cut plan advanced out of a legislative committee Tuesday. The Legislature's Revenue Committee voted 5-3 to advance the proposal, despite concerns over whether the state could afford even the smaller amount.

Bellevue Senator. Abbie Cornett said the new proposal would cost the state about $143 million over a three-year period. Heineman's original proposal would have dedicated $327 million for individual and corporate income taxes, and eliminated an inheritance tax imposed by counties.

The new proposal advanced for debate in the Legislature would cut only individual income taxes, and leaves in place the inheritance tax. Heineman has acknowledged he lacks the votes to pass his full plan in the Legislature.

The vote comes as lawmakers adjust their two-year spending plan.

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