State chamber says tax reform is needed
State Chamber of Commerce officials say they are pleased the state's business climate has improved to the point where it one of the ten best according to a report by CNBC. But they say it could be even better if Nebraska continued to make strides in its standing regarding taxes.
The state has improved from having the 45th worst tax climate to number 32 during Governor Heineman's 's administration. But State Chamber Executive Vice President Richard Baier told the Scottsbluff Rotary Club Tuesday says a floor of $27,000 annual income for the state's highest individual income tax rate of 6.84% needs to change.
Governor Heineman has indicated he could introduce another tax cut package after revenues over the last fiscal year were $110 million better than projected.
Heineman has indicated he will also propose eliminating the state's inheritance tax, which Baier says the State Chamber supports. County officials say they survive without the revenue, but Baier says it keeps people with wealth from living in the state.
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