NEBRASKA IS BACK IN A PROJECTED DEFICIT OF $95 MILLION DUE TO LOWER TAX REVENUES

LINCOLN — It’s official. Nebraska is back into a projected deficit of about $95 million after tax revenues for the year came in below forecasts. 

Legislative Fiscal Analyst Keisha Patent confirmed the situation Thursday at a meeting of the Tax Rate Review Committee. There, she provided state lawmakers with a new financial status report, giving them their first budget update since the 2025 legislative session ended in June. 

Lawmakers this spring grappled with a fluctuating deficit that at one point grew as high as $432 million, ending the session with a projected surplus of about $4 million by the end of the biennium in 2027. However, they still left a projected deficit at the end of the following biennium in 2029 of roughly $129 million. 

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