LINCOLN- The Platte Insitute is calling for “another leap” in tax cuts in Nebraska, aimed at tougher caps on government spending and more power for voters to reject property tax increases. A report released said that it would move Nebraska to among the Top 10 most business-friendly tax climates nationally. It was termed “another leap” forward after the State Legislature adopted major income tax cuts.

“Nebraska has made commendable strides, but there’s more work to be done,” said Jim Vokal, Platte’s chief executive officer. State Sen. Lou Ann Linehan of Elkhorn, a key senator on tax policy as the chair of the Legislature’s Revenue Committee, said that she hadn’t reviewed all of Platte’s suggestions but that property tax relief will be a big issue during the 2024 session, which begins in five weeks.

The Platte Institute, in its report, estimated that once the tax breaks enacted by the Legislature in the past two years are fully implemented, the average tax break per household will amount to $3,000. Vokal, the Platte CEO, said Nebraska now needs to embark on a four-year plan of additional “pro-growth tax policies.”

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