LINCOLN, Neb. (AP) — Nebraska lawmakers have given initial approval to personal and corporate income tax cuts backed by Gov. Pete Ricketts, despite reservations about who would benefit the most and the likely revenue losses for the state.
Senators voted 40-1 to advance the bill through the first of three required votes but promised to work on changes to try to ease some of the concerns. Some lawmakers say they're particularly opposed to the corporate income tax cut, which would reduce the tax burden on large corporations that sell items and services in Nebraska but are headquartered in other states.
Businesses say it would encourage companies to invest in Nebraska and keep the state competitive with its neighbors.
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