Don Walton: Huge tax cuts increase need for economic growth | national news

It was a huge legislative victory for the senses. Lou Ann Linehan and Tom Briese.

It’s not done yet, but their relentless quest for 33 votes in the Legislature to unleash their mammoth tax-cut program from a filibuster and push it through to final enactment has been a lesson in salvation, this n is never over.






Briese








Lou Ann Linehan Mug

Lou Ann Linehan


Pedal as fast as possible, increase the pressure, recruit allies, talk, negotiate, plead the case.

And probably – I wasn’t there to hear it, so I don’t really know – make sure senators clearly understand the ramifications of saying no to significant tax relief at a time when state government is short of money.

Once the dam broke, many reluctant senators rushed to political safety with their votes.

There you have it: a personalized reduction in corporate and personal income taxes as well as further reductions in property taxes through expanded state income tax credits, all linked the phasing out of state income taxation of social security benefits.

Stamped and approved, and headed on track for final promulgation in the final days of the 2022 session.

The lingering question is what the future impact will be on the flow of state government revenue and its ability to adequately fund state programs and institutions, deliver services, and pursue new initiatives.

The estimated budget impact is a $565 million reduction in state revenue by fiscal year 2024-25, reaching approximately $900 million when fully implemented.

And the political fact of life that worried naysayers have voiced, with an uneven distribution of tax cuts, is that raising taxes is much harder than lowering them.

At the limit of the politically impossible.

Even when it might be necessary to adequately fund state institutions, programs and services.

Eliminating current sales tax exemptions for a range of services would be the most likely new revenue option, and it would fill the Capitol rotunda with an army of obstructing lobbyists.

Perhaps population, labor and economic growth are even more important now.

* * *

Here’s the challenge for Nebraska’s Democratic candidates seeking U.S. House of Representatives seats this election year:

* 1st arrondissement: 182,976 registered Republicans; 120,716 Democrats.

* 2nd District: 151,001 Republicans; 146,927 Democrats.

* 3rd District: 260,008 Republicans; 84,508 Democrats.

Metro Omaha’s 2nd District looks competitive, and it has been, though Sarpy County Republicans have been a reliable firewall to overrule Omaha’s Democratic majority vote in recent House elections.

But they failed to stop Democrats from winning a few recent electoral votes in the 2nd District, including one that went to Joe Biden in 2020.

The 3rd district of western and central Nebraska is an obvious Republican gimme.

This year’s redistricting, along with the lack of an incumbent for re-election due to Rep. Jeff Fortenberry’s resignation, makes eastern Nebraska’s 1st District more competitive, but a substantial GOP advantage still exists. .

* * *

Despite Congressman Fortenberry’s departure, the University of Nebraska-Lincoln remains “highly confident” that it will receive the continued federal financial support needed to build a new U.S. Department of Agriculture research center at the Nebraska Innovation Campus.

“More than $31 million has already been appropriated by the federal government and allocated to the USDA for this ARS installation at UNL,” Deb Fiddelke, communications and marketing manager for UNL, said in a statement. e-mail.

“And that support should continue.

“MP Fortenberry has been key in moving this project forward, but we are well on our way,” she said.

“And we continue to have tremendous support from the Nebraska congressional delegation.

“The USDA is committed to this project,” Fiddelke said, “and we’re excited to see it come to fruition.

Former Senator Ben Nelson initially led efforts to acquire a USDA research facility to help start Innovation Campus and he began acquiring the necessary federal funding for the facility through congressional appropriations until ‘until his efforts were stalled when Republican leaders moved to turn the posting into a national campaign issue and ended the practice.

Allocations have helped fund worthwhile projects across the state; there were no federally funded bridges or highways to anywhere in Nebraska.

But politics delayed the acquisition of a USDA research center and slowed the growth of Innovation Campus.

To finish

* Sen. Mike Flood will announce on Monday that he has raised more than $700,000 in campaign contributions to help fund his Republican bid for the 1st District seat in the U.S. House of Representatives since he announced his candidacy January 16. It’s a big start-time.

* Random info: The most popular names for newborns in Nebraska in 2022 are Oliver and Olivia.

*Based on the targeted attacks on civilians, including children, that we see in Ukraine, perhaps the Nazis are not really in Kyiv as Putin claims, but in Moscow inside the Kremlin.

* Countdown: The 2022 legislature has completed its 52nd day of session with a final adjournment currently scheduled for April 20 – if prayer on that day is unobstructed.

* No litter boxes were seen in the Capitol.

* Baseball Thursday.