Platte Institute
OMAHA, NE — The Platte Institute today announced the release of a new tax policy study titled "Nebraska’s Path to the Top Ten; Four More Years of Tax Reform." This comprehensive study outlines a forward-looking approach for continuing Nebraska's trajectory towards a more competitive tax environment after the significant tax cuts implemented over the last two years.
Building on the momentum of recent reforms, the study advocates for a four-year plan of thoughtful, pro-growth tax policies, aimed at modernizing Nebraska's tax code while allowing the 2022-2023 reforms to phase in effectively. "This study sets the stage for another leap in Nebraska's journey towards excellence," stated Jim Vokal, Chief Executive Officer of the Platte Institute. "We are focused on sustaining the progress we've made and ensuring long-term benefits for every Nebraskan."
The Platte Institute's study highlights the achievements of Nebraska's tax transformation over the last two years, including significant cuts in individual and corporate income taxes and substantial property tax relief. Looking ahead, the study emphasizes the need for continued fiscal restraint, additional property tax reforms, repealing the inheritance tax, and a range of innovative measures like the introduction of a two-tier property tax cap and safe harbor provisions to attract remote workers to Nebraska.
"Nebraska has made commendable strides, but there's more work to be done," Vokal added. "Our recommendations are designed to maintain Nebraska’s competitive edge, encourage investment, and provide tangible benefits to our citizens."
The study also calculates that if these recommended reforms, along with the 2022 and 2023 changes, were fully implemented today, Nebraska's ranking in the Tax Foundation’s State Business Tax Climate Index would be #8 rather than #30 nationally. While these rankings will certainly change in coming years, Nebraska now has a pathway to a top-10 tax code.
For more information on the study or to schedule an interview, please contact Ryan Kopsa at (402) 366-4432 or [email protected].
The Platte Institute is committed to advancing policies that remove barriers to growth and opportunity in Nebraska. Visit PlatteInstitute.org to access the full study and for more information on our initiatives.