Nebraska Governor Pete Ricketts Introduces Three Tax Relief Bills

Nebraska Governor Pete Ricketts wants to keep families in the state – through tax breaks. He introduced three bills to accomplish this on Capitol Hill Monday. Ricketts’ first plan is already in place for 2022 when they pay in their school districts. Ricketts wants to make this permanent. Another proposal would speed up how the state applies Social Security taxes. Ricketts has said a bill was passed last year to phase out taxes on Social Security benefits over a 10-year period. Ricketts wants to accelerate that timeline to happen over five years. The governor also proposed reducing the income tax rate. His proposal to do so is achieved by lowering the personal income tax rate from 6.84 to 5.84 over five years. Ricketts said the only state around Nebraska that has a higher tax rate is Iowa, and Gov. Kim Reynolds wants to lower that rate.

Nebraska Governor Pete Ricketts wants to keep families in the state – through tax breaks.

He introduced three bills to accomplish this Monday at the Capitol building.

Ricketts’ first plan is already in place for 2022.

Currently, Nebraskans receive 25% from the state when they pay their school districts.

Ricketts wants to make this permanent.

Another proposal would speed up the way the state applies social security contributions.

Ricketts said a bill was passed last year to phase out taxes on Social Security benefits over 10 years. Ricketts wants to accelerate that timeline to happen over five years.

The governor also proposed lowering the income tax rate.

His proposal to this effect is achieved by lowering the personal income tax rate from 6.84 to 5.84 over five years.

Ricketts said the only state around Nebraska that has a higher tax rate is Iowa, and Gov. Kim Reynolds wants to lower that rate.

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