LINCOLN, Neb. (KMTV) — A bill that would lower income tax by more than one percent for top income-earners is up for debate in the Nebraska Legislature.
LB939 would lower the top income tax rate from nearly seven percent to nearly six.
Gov. Pete Ricketts has come out in support of the bill.
But some are still waiting to hear the debate, and say that more needs to be done for people who have lower incomes.
State Sen. John McCollister is one of those lawmakers.
"I do think we need a more balanced approach that takes into account some of the low-income people that need a tax benefit as well."
The bill is moving to a select committee, and debate remains open. No vote has been held yet.
Opponents have called it a tax cut for the wealthy, while those in support say it would benefit the middle class as well. The Open Sky Policy Institute says the bill would eliminate more than $360 million in annual state revenue, which could lead to major budget cuts in the state.
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