LINCOLN — For the second month in a row, Nebraska’s general fund tax receipts came in modestly above forecasts, but there’s still a ways to go to fill the state’s projected deficit. The Department of Revenue released Nebraska’s August tax receipts Monday showing a net gain of 2% over what Nebraska’s Economic Forecasting Advisory Board predicted in April. That jump equates to roughly $12 million in additional tax revenues flowing into the state’s coffers.

Nebraska ended the last fiscal year with net tax receipts down about $86 million from forecasts, leading to a projected state budget deficit of about $95 million. The latest receipts help with filling that deficit, along with Nebraska’s July receipts being roughly $20 million higher than projections. The forecasting board considers these reports when making revenue projections, Legislative Fiscal Analyst Keisha Patent said.

But the progress also must contend with other economic factors, including the federal budget reconciliation bill. A different revenue report that came out earlier this month shared that the new tax and spending law could cost Nebraska’s state government about $216 million over the next two years.

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