LINCOLN- As debate over the proposed EPIC Option Consumption Tax continues, some argue that such a drastic change would negatively impact much of Nebraska. The EPIC Option, if passed on the 2024 ballot and regulated by the Nebraska Legislature, would eliminate all property, income, inheritance, and corporate taxes in the state.

According to a fiscal impact analysis conducted last year by the OpenSky Policy Institute, enacting the EPIC Option in Nebraska could result in a $7.4 billion annual tax revenue loss and would require a tax rate of 22.1% for revenue to become neutral. Others have criticized the language of the EPIC Option proposal, including the imposition of a uniform tax, which would prohibit the use of multiple rates of tax for different goods and services.

Others point to the "one-size-fits-all" nature of the proposal, as it would charge all Nebraskans. whether low- or high-income, the same amount of tax. Throughout the history of taxation, governments often designed tax systems so that they wouldn't burden one group or another. Debate over the EPIC Option, both in the Legislature and the state overall, is expected to ramp up as the state nears the 2024 general election, where the fate of the proposal will be decided.

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