May 2, 2017

Associated Press: Tax Package Backed by Nebraska Gov. Ricketts Stalls

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The bill would have given a larger benefit to wealthy residents who pay a larger share of their income at the top tax rate. Supporters said the income tax portion was largely aimed at small businesses that would promote job growth and diversify the economy.

Critics said the package doesn’t do nearly as much for middle- and low-income residents. An analysis by the Institute on Taxation and Economic Policy found that residents making $43,000 to $67,000 a year would see $53 in tax savings, while those making $509,000 annually would save nearly $6,000.

Nebraska’s leading farm groups objected as well, saying it doesn’t do enough for farmers who have faced soaring property taxes.



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