NE Chamber president comments on adoption of historic tax relief

​LINCOLN – NE Chamber President Bryan Slone offered the following comment on final passage of LB873, a bill offering significant income and property tax relief in phases through 2026.
 
The bill:

• Reduces individual and corporate income tax top rates down over five years to 5.84%;
• Offers income tax credits for property taxes paid to community colleges;
• Boosts total income tax credits available for property taxes paid to local schools to $548 million for 2022 and $567 million for 2023; and
• Completely phases out income taxes on social security income.

 
“A dynamic, growing economy with lots to do and cutting-edge job opportunities is critical to attracting and retaining more people in Nebraska, especially our talented, young generations entering the workforce,” said Bryan Slone, NE Chamber President. “You get less of what you tax, and Nebraskans need more right now – more in their pockets to support their families, more private investment, more innovation, more high-tech jobs. We appreciate the work of our state leaders in helping us build a game-changing strategy for growth.”
 
Income tax relief was one of the priorities identified by the “Good Life Game Changer” coalition, comprised of the Nebraska Economic Developers Association, the NE Chamber, the NE Chambers Association, the Lincoln Chamber of Commerce and the Greater Omaha Chamber of Commerce, unveiled policy priorities to take advantage of once-in-a-lifetime economic opportunities that help Nebraskans, their communities, and their employers compete better globally over the coming decades.  Learn more at nechamber.com.