Connect with us

KLIN Sports

Federal Tax Package Creates Uncertainty for Nebraska Budget

LINCOLN, Neb. (AP) – Nebraska officials say the tax package working its way through Congress is creating a great deal of uncertainty for the state budget because it could affect tax collections.

Legislative Fiscal Office Director Michael Calvert told senators Thursday that the state’s finances face a significant risk that can’t easily be predicted.

Nebraska’s tax system is closely linked to the federal system, so changes at the federal level can influence the state’s tax collections. State officials also suspect investors may be reluctant to sell right now because they’re hoping for reduced tax rates on capital gains in the future.

The comments came during a meeting of the Legislature’s Tax Rate Review Committee.

Related Topics
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Advertisement

Must See

Advertisement Enter ad code here
Advertisement

Facebook

Advertisement

More in KLIN Sports