Nebraska lawmakers facing nearly $1 billion budget shortfall next year
Source: Omaha World Herald
By Martha Stoddard and Emily Nohr
LINCOLN — Nebraska lawmakers will face a nearly $1 billion budget shortfall when they return to Lincoln next year.
That was the gap left after a state board met Friday to update the official forecast of state tax revenues through June 30, 2019.
Board members reduced the previous revenue estimates based on the gloomy agricultural economy and on lower than expected tax receipts this year.
The new forecast calls for tax revenues to fall $910 million below projected expenses from now through the end of the next budget period.
FULL story at link.
Read more: http://www.omaha.com/news/politics/nebraska-lawmakers-facing-nearly-billion-budget-shortfall-next-year/article_2a21f51c-9d4f-11e6-afa8-53028238ee09.html
Gov. Pete Ricketts and R state lawmakers never want to raise taxes. There is a letter for R candidates to sign saying they won't raise the gas tax ever and try to repeal.
Raised the fixed rate by 1.5 cents Jan 1. The tax increase is the result of a decision earlier this year by the Nebraska Legislature to override Gov. Pete Ricketts' veto of a bill to increase the state's fuel tax rate by 6 cents per gallon over four years. Dec 30, 2015
Because of I-80 many non-Nebraskans pay this in our state for example.
= new reply since forum marked as read
