“Governor Ricketts has not heard the people of Nebraska - Incredibly short-sighted.”
LINCOLN, NE – Nebraska State Sen. Bob Krist, candidate for governor, said today that Gov. Ricketts’ tax proposal is short-sighted and doesn’t go far enough to help the ag economy and instead rewards the richest people in Nebraska. The bill is set for a public hearing at 1:30 p.m. Wednesday before the Revenue Committee.
“I believe once again the Governor has not heard the people of Nebraska and not understood what they are asking the Governor and the Legislature to do,” Krist said.
“His tax bill is not a priority of the people of Nebraska. People are asking for property tax relief and instead this bill would lower income tax on the highest wage earners around the state. It's incredibly short-sighted.”
LB 947 would end Nebraska’s existing property tax credit program and redistribute the $224 million allocated to it each year. Rural senators and farm groups are also opposed to the governor’s plan and are pushing for more substantial property tax savings.
Krist also expressed concern with so-called revenue “triggers”. The Ricketts plan would allow state senators to work around future budget challenges with triggers that would automatically reduce income tax rates in years when the state collects more money than expected.
Critics have said the triggers effectively put Nebraska's tax policy on autopilot and would impede the state's recovery after a sharp revenue downturn.
“These triggers that would take the emphasis away from elected officials to make decisions. Triggers are a really bad policy. We need to guard against any legislation that would put triggers in place,” Krist said.
Krist said his number one priority will be to focus on finding nonpartisan solutions to reducing property taxes for all Nebraska, while ensuring adequate education funding.
“For the nearly ten years that I have served in the Nebraska Legislature, all we’ve done is talk about tax reform. The tax problem is bigger than just property tax relief, it is about restoring the balance between property tax, income tax, and sales tax: the three-legged stool.”
“I understand when people say they feel their voices are not being heard. If elected governor, the talking will turn into action. I will get it done,” he said.
FOR IMMEDIATE RELEASE
January 31, 2018
Contact: Dan Parsons, (402) 580-2321