Will NE Income Tax Be Cut?

Nebraska lawmakers are supporting efforts to cut the state's income tax. Yesterday, state senators voted forty-one to nothing to advance an income tax cut that reportedly could put the Cornhusker state within the top third of states when it comes to taxing its residents. If signed into law, the bill passed yesterday reportedly would gradually lower the top income-tax rate for individuals and corporations to three point nine-nine percent. That rate currently stands at six point six-four percent. Proponents say cuts would attract new businesses to Nebraska. Critics argue that lowering state taxes would mostly benefit out-of-state corporations.