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Senator Brandt urges pause to final income-tax cuts to shore up state budget; supporters say pause averts service cuts
Summary
Sen. Tom Brandt told the Revenue Committee LB171 would hold next scheduled income-tax reductions at 4.99% rather than allowing a drop to 3.99%, preserving revenue to cover a projected budget shortfall and to fund property-tax relief. Supporters described the pause as pragmatic; chambers and business groups opposed reversing planned rate declines,
Sen. Tom Brandt proposed a pause to the scheduled reductions in Nebraska income-tax rates with LB171, saying the change would stabilize state finances while preserving the possibility of future cuts when revenues allow.
In his opening, Brandt said LB171 is "not a tax increase" but a pause — keeping the top corporate and personal income-tax rate at 4.99% rather than allowing it to fall to 3.99% as scheduled under previously enacted legislation. He said a pause would produce needed revenue to address the state's budget shortfall and to keep commitments to property-tax relief programs.
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