News, Weather and Sports for Sioux City, IA: KCAU-TV.comDebate Opens On Nebraska Governor's Tax Cut Plan

Debate Opens On Nebraska Governor's Tax Cut Plan

LINCOLN, Neb. (AP) _ Nebraska Gov. Dave Heineman says his $327 million tax cut plan is necessary to relieve economic pressure on middle class taxpayers.

The governor brought his case before the Legislature's Revenue Committee on Thursday.

Heineman says the bill (LB970) brings tax relief by lowering individual and corporate taxes. It also calls for an end to the inheritance tax. The governor says Nebraska has made significant progress in terms of taxes, but Nebraskans are still taxed too highly.

Mary Ann Borgeson, vice-chairwoman of the Douglas County Board, opposed the bill. She says ending the inheritance tax amounts to a tax shift. Borgeson says property taxes in most counties would rise if the inheritance money is taken away. She says Douglas County alone would lose $8 million a year in inheritance tax revenue.