Neb. lawmakers pass historic tax cuts

LINCOLN, Neb. — A bill that would drastically cut income taxes in Nebraska is headed to Governor Jim Pillen’s desk.

NEBRASKA TAX BILLS ENTER FINAL ROUND OF DEBATE

LB 754, part of Pillen's tax relief plan, is on its way to the governor's desk. This legislation aims to gradually reduce the state's top personal tax rate and the corporate income tax rate to 3.99% by the tax year 2027. It also includes the adoption of the Child Care Tax Credit Act.

In a separate development, LB 243, another tax bill, was successfully passed on Thursday.

NE LEG: SENATORS DEBATE PROPERTY TAX CREDIT CHANGES

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This bill focuses on raising the minimum amount of relief provided under the Property Tax Credit Act from $275 million to $560 million.