Senator John Stinner of Gering says one of his main goals in approving a new biennium budget in the next session is increasing the state’s rainy day fund.
Stinner, speaking to KNEB while attending the Nebraska Farm Bureau Listening session in Gering Monday, says the current $300 million reserve needs to move to $500 million quickly because the increase in revenues being seen now won’t last long.
Stinner said,” A lot of economists say things are going to slow down in 2020 and with tariffs impacting the price we get for commodities in Nebraska, that is something we are going to be watching very closely.”
Stinner says getting a consensus on property tax relief will also be difficult, which is why he is talking to groups like the Farm Bureau to get their thoughts on how to accomplish it. Stinner says he will be speaking to other ag groups, the State Chamber and Governor Ricketts at an economic forum next week to see if a plan and a number can be developed in the budget for property tax relief.
Stinner says one of the other areas up for review in the next session is the state’s Tax Advantage Act. The legislation was passed to entice business to come to the state, but as supporters look to renew it, a review of how cost-effective it has been may bring changes.