Nebraska Governor Calls for Tax Cuts in State of the State Address
Heineman scooped his own State of the State address — scheduled for delivery Wednesday — by revealing his plan Tuesday night to seek up to $500 million in tax cuts over the next three years.
In an usual press conference before his biggest speech of the year, Heineman used fiscal estimates by the Legislature to argue that the state's record cash reserve — and holding spending growth to 4 percent — would more than accommodate major tax cuts.
“We are sitting on a bundle of cash,” Heineman said. “We are overtaxing our citizens, and they deserve some of it back.”
Heineman did not outline a specific plan of exactly what taxes to cut and how much, saying he wanted to work with the Legislature on that.
But he said it should include a reduction in individual income taxes, as advocated by business groups, and a cut in the property valuation of agricultural land, as called for by groups representing farmers and ranchers.