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Group calls for Nebraska tax reform
At the heart of Nebraska's budget are the state's income tax and tax inheritance programs. And one local group says what happens in the Legislature and at the federal level will directly affect you and your family.
About fifteen months ago the Open Sky Policy Institute was created in order to help provide in depth research into Nebraska's fiscal policies. At the Kearney Chamber of Commerce, the non-partisan group held a conference this afternoon. Several legislators and community leaders attended. Open Sky's Executive Director says after months of research the institute found Nebraska needs comprehensive tax reform. "We see that our property taxes are going up considerably, but our state revenues are going down and there's a direct relationship between revenues and when they go down our local revenue and property taxes go up," said Open Sky Institute Director Renee Fry. The institute also notes areas in Adams and Buffalo counties have reached their spending lids and eliminating the inheritance tax would affect those areas the most. Open Sky seeks to form a coalition to help address those issues. The fiscal cliff will also play into what decisions Legislators make at the state and local levels. Nebraska is more dependent on federal funding. During the fiscal year of 2010-2011, $3 billion came from the government. Given spending cuts on the table that number could decrease. |
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