Open Sky Policy Institute: LB 64: A costly measure that is unlikely to impact retiree migration
ITEP Work in ActionLB 64, a bill slated for second-round debate on today’s legislative agenda, is a costly measure that would give wealthy retirees a sizable tax break under the premise of keeping them from fleeing to other states. Few retirees, however, are likely to flee regardless of what happens to our tax code and those who do relocate are much more likely to do so to be closer to family, lower their overall cost of living, improve their access to healthcare or simply live in a better climate. They also are likely to spend more on moving costs than they would save in taxes.