LINCOLN- On Tuesday, widely recognized as "Tax Day" in the United States, Governor Jim Pillen, joined by several key state senators and two tax groups, celebrated a few legislative proposals that aim to reduce Nebraska's top income tax rate to 3.99% by 2027. Tuesday was the deadline to file state and federal income tax returns, and the governor maintained that the state needs to be more competitive when it comes to taxes.

"It's really important that we have a tax policy that gets us in the game," said Gov. Pillen. Currently, Nebraska ranks 29th in the overall business tax climate, but several legislative proposals might shift that number. LB754, introduced by Sen. Lou Ann Linehan on behalf of Gov. Pillen, would reduce the state's top personal income and corporate tax rates significantly, moving Nebraska down to 12th place if passes, according to advocates.

"For far too long we have found ourselves uncompetitive with other states when it comes to taxes," said Linehan, "We're finally going to be able to go where we've been trying to go for the past seven years." Alongside Governor Pillen were representatives from the Platte Institute, as well as from Americans for Prosperity. Both groups joined Gov. Pillen in promoting LB754, as well as its companion bill, LB243, which would provide property tax relief.

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