In the face of a budget shortfall, some political leaders in Lincoln are clamoring to cut income taxes for the wealthiest Nebraskans.
The move would compound our real challenge. It’s property taxes that Nebraskans are asking lawmakers to look at.
The Center for Rural Affairs has long held that state revenue should be balanced among property, sales and income tax. Today, property tax accounts for 36 percent of revenue; sales tax, 30 percent; and income tax, just 26 percent.
Income tax is already the shortest of the three revenue legs.