STATE SEN. LINEHAN SAYS NEBRASKA LAWMAKERS NEED TO PURSUE MAJOR TAX OVERHAUL

LINCOLN — A leader in crafting this year’s property tax relief package said Thursday that the measure falls far short of what Nebraska needs.

State Sen. Lou Ann Linehan of Elkhorn, the Revenue Committee chairwoman, gave lawmakers an “A” for passing the tax package in the waning days of the session. It includes a new state income tax credit to offset a portion of property taxes paid for schools, as well as new business tax incentives. But Linehan said she doesn’t think the package is “anywhere near enough” and said lawmakers need to pursue a major revamp of the state’s tax structure.

“We need a whole tax overhaul,” she said. “Our structure is old, it’s complicated, it’s burdensome. I think we need to act, and we need to act in a big way.” 

Linehan commented during a virtual legislative summit put on by the Platte Institute, an Omaha-based think tank. She was joined by Jim Smith, executive director of Blueprint Nebraska, an effort led by business and community leaders to shape the state’s future.  Blueprint Nebraska plans to launch a discussion next week about modernizing Nebraska’s state and local taxes. He said the effort requires the creation of an ideal tax plan first, then developing a strategy to reach that goal.

Read the full article HERE