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Critics say Ricketts' plan to cut income taxes is too drastic, but his plan to cut property taxes is
Critics say Ricketts' plan to cut income taxes is too drastic, but his plan to cut property taxes isn't drastic enoughLINCOLN — Gov. Pete Ricketts’ proposals for future income and property tax cuts met with criticism aplenty — and also some praise — on Thursday.
Some detractors said his plan to phase in cuts to the top individual income tax rate would go too far, potentially harming state services to benefit the state’s wealthiest citizens.
Others said his proposal to change how farmland and ranchland are valued would do too little to reduce the share of taxes paid by property taxpayers.
But Ricketts said the proposals would provide “lasting, fair and structural” property tax reform and make Nebraska more competitive with neighboring states.
Read more: http://www.omaha.com/news/nebraska/critics-say-ricketts-plan-to-cut-income-taxes-is-too/article_71d4f078-d939-11e6-8505-b7544771b0dd.html