Tax cuts should be approved by the Legislature next year despite a state revenue shortfall and at the advent of a new two-year budget cycle because they will lead to job creation and economic growth, state senators and business representatives were told Tuesday.
Nebraska taxpayers are suffering "the real shortfall," Platte Institute CEO Jim Vokal said at a legislative summit hosted by the business-friendly organization.
Sen. Jim Smith of Papillion said the only way to accomplish the income tax cuts supported by business will be to pursue "a comprehensive approach to get the necessary votes in the Legislature" and that means additional reductions in agricultural property taxes along with both individual and corporate income tax cuts...
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