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.
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A proposed constitutional amendment that would replace Nebraska’s tax system with retail consumption and excise taxes failed to advance from general file April 5.
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Nebraskans could vote to replace property, income and other current taxes with retail consumption and excise taxes under a proposed constitutional amendment heard Feb. 3 by the Revenue Committee.
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