Among the proposals advanced by the Revenue Committee this session is a package of bills that cut individual and corporate income tax rates, speed up the phaseout of state taxation of Social Security income and expand a program intended to offset property taxes used to fund education.
Read MoreLawmakers passed a bill April 7 that cuts individual and corporate income tax rates, speeds up the phaseout of state taxation of Social Security income and expands a program intended to offset the amount of property taxes used to fund education.
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Lawmakers gave first-round approval Feb. 24 to a bill that would cut Nebraska’s top individual income tax rate after amending it to include a proposed reduction in the top corporate income tax rate.
Read MoreNebraska’s top corporate and individual income tax rates would fall to 5.84 percent by 2026 under proposals heard Jan. 27 by the Revenue Committee.
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