The consumption tax proposal in LB 79 would require a rate of 22.1 percent to be revenue neutral, OpenSky analysis conducted with the Institute on Taxation and Economic Policy finds. This rate is nearly three times greater than what is proposed in the bill.
Further, OpenSky estimates that if the consumption tax were to be enacted as written in LB 79, it would amount to an annual revenue loss of $7.4 billion.
January 9, 2024
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