A Nebraska lawmaker has an unconventional idea for the state tax system: Let taxpayers become investors
LINCOLN, Neb. (AP) - A Nebraska lawmaker has an unconventional idea for the state tax system: Let taxpayers become investors.
Sen. Paul Schumacher of Columbus presented a bill Tuesday that would give Nebraskans the option pay more taxes up-front, in exchange for an inflation-adjusted tax credit in the future. The credit would yield the same interest as a 10-year Treasury bill, and would be applied to future tax liabilities.
Schumacher says the measure serves a double purpose: It would generate more up-front cash for roads projects, which are cheaper now than in the future, and would give savers a new place to invest.
The bill's future is unclear. Schumacher acknowledged the idea would be "an experiment," but members of the Revenue Committee gave him high marks for creativity.
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The bill is LB82
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