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OpenSky statement on changes to tax package

Open Sky Institute

Below are statements from OpenSky Policy Institute Executive Director Dr. Rebecca Firestone regarding LB 388, the tax package advanced on Wednesday evening to final-round consideration.

On state tax policy
“We have choices when it comes to our state’s tax code, and we can ensure everyone pays their fair share and that we have the revenue to invest in great schools, stable, affordable housing, high-quality child care and public safety. We encourage policymakers to continue to consider equitable and sustainable solutions as they weigh changes in tax policy going forward that enable all Nebraskans to thrive.”

On LB 388
“The negotiated package improves the transparency of Nebraska’s tax policy, ensuring that  intended property tax savings get into the hands of taxpayers, and expanding the state’s Earned Income Tax Credit will target support to working families who need it most.”

In tax year 2021, 160,000 Nebraskans claimed the Earned Income Tax Credit, providing additional income to address poverty, improve health outcomes and educational achievement and boost local and state economies.

On revenue caps
“Without a commitment to provide additional state funding, expanding revenue caps to cities and counties would make it harder for local political subdivisions to be responsive to their constituents. Local officials have a better understanding of local needs and desires than do state legislators, and a one-size fits all approach will make it challenging to grow the Nebraska economy.”