Tax Expert Urges Nebraska Senators to Move Cautiously

By: Associated Press
By: Associated Press

A national tax-policy expert is urging Nebraska lawmakers to move cautiously as they prepare for a possible overhaul of the state's tax system.

University of Connecticut professor Richard Pomp told a group of senators Thursday that sudden, dramatic changes to tax policy could have unintended consequences.

Republican Gov. Dave Heineman unveiled plans this week to eliminate the state's individual and corporate income taxes, while eliminating as much as $2.5 billion in sales-tax exemptions for businesses.

Pomp says eliminating the income tax would make state revenue more volatile and less predictable for policymakers, because sales tax revenue can fluctuate with the economy.

The forum was sponsored by the OpenSky Policy Institute, a Nebraska tax-policy think tank. Executive director Renee Fry says Nebraska's tax code is outdated and needs a careful review.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLN-TV Call: (402) 467-4321 Toll-free: 1-800-475-1011 840 North 40th Lincoln, NE 68503 Email: info@1011now.com KGIN-TV Call: (308) 382-6100 123 N Locust Street Grand Island, NE 68802 Email: kgin@1011now.com KSNB-TV Toll free 888-475-1011 123 N. Locust St. Grand Island, NE 68802 Email : ksnb@1011now.com
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 187435501