Nebraska governor's tax cut proposals up for hearing - KTIV News 4 Sioux City IA: News, Weather and Sports

Nebraska governor's tax cut proposals up for hearing

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Nebraska Governor Dave Heineman's plan to cut a variety of taxes is now on the table before state lawmakers.  The Legislature's Revenue Committee opens a hearing Thursday on a bill that would reduce three separate taxes.  The proposal would lower individual state income taxes and corporate income taxes.  It also would end the inheritance tax, which is imposed on beneficiaries when a person dies.  Heineman unveiled the proposal in his State of the State message earlier this month.  The proposed inheritance tax repeal has triggered a backlash from groups that represent counties.  Many Nebraska counties say they rely on inheritance tax revenue to fill their rainy-day funds and offset property taxes.

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