Governor Heineman delivers a challenge to the legislature: eliminate the state income tax. Brent Martin reports lawmakers are cautious about embracing the plan.
Governor Heineman delivers a challenge to the legislature: eliminate the state income tax. Brent Martin reports lawmakers are cautious about embracing the plan.
Brent Martin; soc
Governor Heineman casts his proposal as a chance for Nebraska to forge its future. . .
Gov. Dave Heineman; "our daughters here"
Simply eliminating the inidividual and corporate income tax, according to Legislative Speaker Greg Adams of York, would leave too big a hole in state revenue. . .
Speaker of the Legislature, Greg Adams of York; "has a constituency"
The proposal calls for eliminating an equivalent amount of sales tax exemptions to offset the loss of revenue.
It will go before Senator Galen Hadley's Revenue Committee who says he wants to hear what effect it will have. . .
Sen. Galen Hadley, Kearney; "a lot about"
The conversation has just begun.
Governor Heineman proposes eliminating the state income tax, both for individuals and corporations.
Heineman would offset the loss of revenue to the state by eliminating various sales tax exemptions. . .
Heineman; "and our grandkids"
The income tax brings in about 2-point-4(B)Billion dollars a year. The state exempts 5 Billion dollars in sales taxes.
Governor Heineman says he wants to start a conversation: should Nebraska eliminate the state income tax.
Heineman says he is giving the legislature a choice. . .
Heineman; "lower rates"
Heineman says the state exempts 5 Billion dollars annually in sales taxes. He proposes offsetting the loss of revenue by eliminating an equal amount of sales tax exemptions.
Governor Heineman makes his pitch to eliminate the state income tax. . .
Heineman; "of the future"
But, for Speaker Greg Adams of York, the difficulty lies in which sales tax exemptions can be eliminated to offset the loss of state revenue.
Adams; "more likely to happen"
Adams says it's more difficult to eliminate sales tax exemption that it appears, because every exemption has a constituency.
The chairman of the legislative Revenue Committee says he's waiting to hear more about the governor's proposal to eliminate the state income tax.
Senator Galen Hadley of Kearney says the difficult in eliminating the individual and corporat income tax is which sales tax exemptions do you eliminate to offset the loss of revenue to the state. . .
Hadley; "$2.4 billion"
The individual and corporate income tax totals 2-point-4(B)Billion dollars a year.
(courtesy of Nebraska Radio Network)
