Reaction to State of the State address|
Posted: 01/16/13 08:34
Lt. Governor Rick Sheehy came to Hastings yesterday to summarize the Governorís tax reform proposal. Sheehy stressed as this proposal, the overhaul of the tax system and the increase in state aid to public schools, was made with no budget cuts. Sheehy also says the elimantion or phasing out of the state inheritance tax will be on the table this session.
The chairman of the legislative Revenue Committee says he's waiting to hear more about the governor's proposal to eliminate the state income tax.
Senator Galen Hadley of Kearney says the difficulty in eliminating the individual and corporate income tax is which sales tax exemptions do you eliminate to offset the loss of revenue to the state. The individual and corporate income tax totals 2.4 Billion dollars a year.