A recent study by the Nebraska Department of Revenue (DOR), intended to inform the members of Nebraska’s Commission on Tax Modernization, confirms what pro-growth tax reformers have long argued: tax cuts lead to personal income growth, investment growth, and job growth. Though the study incorrectly found sales tax cuts to be a greater boon to state economic performance than income tax cuts, the study notes that even after accounting for offsetting cuts to government spending, tax cuts of any kind would provide a boost to Nebraska's economy.
After extensive research, the Platte Institute has released a new report detailing tax reform possibilities developed specifically for Nebraska.
The Fairness of Free Market Tax Policy
The key to helping the poor is not through a short-term and temporary redistribution, but through a reduction in the substantial tax impediments to saving and investing.
Taxes, Debt, and Economic Growth
This study examines Nebraska counties to
determine the individual impact of the tax and debt
burdens on economic development.
Honest Accounting and Public Employee Pensions in Nebraska
Defined benefit pensions plans for public sector employees
are under financial strain in states around the country. But
the true funding shortfalls may be drastically understated.
This study, released in conjunction with the Tax Foundation, provides policy recommendations to reduce Nebraska’s individual and corporate income tax, and offer meaningful relief from excessive property tax increases, and provide options for difficult sales tax reform. The Tax Foundation and the Platte Institute met with key stakeholders and business leaders from across the state to listen to their concerns, and to ensure the study adequately reflects the values and priorities of Nebraska citizens. Ultimately, the study recommends reducing the individual income tax rate from 6.84 to 5.5 percent, and reducing the corporate income tax rate from 7.81 to 5.5 percent.
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