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Gov. Heineman Proposes Eliminating Nebraska Income Tax
(KTNC) - Governor Dave Heineman used his State of the State Address Tuesday to propose eliminating the state income tax, for both individuals and corporations.
Heineman would offset the loss of revenue to the state by eliminating various sales tax exemptions. (play audio :18 “our grandkids.”)
The governor made his pitch to eliminate the state income tax. (play audio :10 “of the future.”)
But, for Speaker of the Legislature Greg Adams of York, the difficulty lies in which sales tax exemptions can be eliminated to offset the loss of state revenue. (play audio :16 “more likely to happen.”)
Adams says it’s more difficult to eliminate sales tax exemptions than it appears, because every exemption has a constituency.
The chairman of the legislature’s Revenue Committee says he’s waiting to hear more about the governor’s proposal. Senator Galen Hadley of Kearney agrees with Adams that the difficulty in eliminating the income tax is which sales tax exemptions do you eliminate to offset the loss of revenue to the state. (play audio :19 “$2.4 billion.”)
The income tax brings in about 2-point-4 billion dollars a year. The state exempts five billion dollars in sales taxes.
© Nebraska Radio Network
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