More property, income tax debates expected in 2018 session
Posted by: Channel 8 Eyewitness News
LINCOLN, Neb. (AP) Despite a state budget crunch and a push to lower property taxes, Nebraska lawmakers will likely face another debate over income taxes in next year’s session.
Key lawmakers say they’re hopeful they can reach a compromise on a package and overcome the sharp divide that kept them from passing any major tax measures earlier this year.
Sen. Jim Smith of Papillion, the Revenue Committee chairman, says there isn’t enough support among lawmakers for a measure that focuses solely on income taxes or property taxes.
Lawmakers will begin next year’s session with a projected $195 million revenue shortfall. The tax package proposed in this year’s session would have triggered income tax cuts only after years when the state collects excess revenue.