NEBRASKA IS FACING A PROJECTED 95-MILLION-DOLLAR BUDGET DEFICIT AFTER TAX REVENUES FOR MAY AND JUNE CAME IN BELOW EXPECTATIONS.
THAT’S DOWN FROM THE LAST ESTIMATE OF A FOUR-MILLION SURPLUS.
THE NEW NUMBERS WERE RELEASED BY THE TAX RATE REVIEW COMMITTEE.
GOVERNOR JIM PILLEN IS ALREADY PROPOSING A TEN-PERCENT GENERAL FUND CUT NEXT YEAR.
PILLEN SAYS NEBRASKA FAMILIES AND BUSINESSES WILL SEE INCOME TAX RATES FALL FROM 5.2% TO 4.55% THIS COMING JANUARY, AND DOWN AGAIN TO 3.99% BEGINNING 2027.
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