Governor Ricketts and supporters of his property and income tax package said Monday the legislation is the best chance for lawmakers to provide property tax relief in the remaining days of this session.
Among the supporters were Barry Kennedy with the Nebraska Chamber of Commerce and Steve Nelson, President of the Nebraska farm bureau.
Ricketts said getting a plan approved through the legislature is better than trying to gain property tax relief through a proposed ballot initiative.
Nelson said if Rickett’s plan passes, his organization would transfer its resources in the future from the ballot initiative to addressing the high reliance on property taxes to fund the state’s schools. But Nelson also said that decision would not keep members from still working on the initiative themselves.
Rickett’s plan would phase in income tax credits for property owners, gradually reduce Nebraska’s top corporate income tax rate until it matches the top rate for individuals, and provide $5 million a year for job-training programs.
Opponents say the plan is too little, too late, and does not provide substantial property tax relief now.