UPDATE: Nebraska Governor Dave Heineman pushes his tax reform - KTIV News 4 Sioux City IA: News, Weather and Sports

UPDATE: Nebraska Governor Dave Heineman pushes his tax reform bill LB 405

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LB 405 is endorsed by some of Nebraska's veterans. LB 405 is endorsed by some of Nebraska's veterans.
LINCOLN, Neb. (KTIV) -

Surrounded by Nebraska Veterans, Heineman's bill calls for the elimination of the state income tax.

"By adopting a modern simpler and fairer tax code we have the opportunity to make Nebraska a top 10 business tax climate so that our sons and daughters can find careers and good jobs right here in Nebraska and our seniors and our military retirees will stay because Nebraska will no longer tax their retirement income and their social security benefits," Governor Dave Heineman, (R) Nebraska said.

Heineman says 43 states exempt social security from taxation and 23 states exempt a portion of, or all, military retirement from taxation but not Nebraska.

He says it's a matter of fairness for Nebraska taxpayers.

Heineman will testify Wednesday afternoon at 1:30 p.m. before the Legislature's Revenue Committee.

LB 405 would also eliminate $2.4 billion in sales tax exemptions.

 

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