Gov. Ricketts seeks tax cut for highest earners
LINCOLN, Neb. (AP) - Nebraska Gov. Pete Ricketts is proposing an income tax cut for corporations and nearly 419,000 residents whose incomes rise into the state’s top bracket.
During his State of the State Address Thursday morning, the Republican governor said he would seek to lower the top rates to 5.84%, down from the current 6.84% for individuals and 7.25% for corporations that will go into effect next year.
“For those who may try to brand this as a tax cut for the rich, I challenge you to ask the Nebraskans making $33,180 or families making $66,320 a year, if they feel rich,” Ricketts said. “They make up some of the 418,900 Nebraskans in this tax bracket who deserve relief.”
The plan would reduce state tax collections by $178.8 million by fiscal year 2025.
Like many other states, Nebraska is flush with cash from a better-than-expected pandemic economy and billions in federal stimulus payments that went to most Nebraska taxpayers.
After his speech, the Governor embarked on a fly around. All the events below are open to the general public.
Thursday, January 13
1:00 p.m. CT Grand Island Press Conference, Central Nebraska Regional Airport, 3773 Sky Park Road, GRAND ISLAND
2:30 p.m. MT Scottsbluff Press Conference, Western Nebraska Regional Airport, 250023 Airport Terminal St., SCOTTSBLUFF
Friday, January 14
9:15 a.m. CT North Platte Press Conference, North Platte Regional Airport, 5400 East Lee Bird Drive, NORTH PLATTE
11:00 a.m. CT Norfolk Press Conference, Norfolk Regional Airport, 4100 S 13th St, NORFOLK
1:45 p.m. CT Fremont Press Conference, Fremont Municipal Airport, 1203 W 23rd St, FREMONT
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