COULD A BROADER SALES TAX PROTECT NEBRASKA’S INCOME TAX CUTS? THINK TANK REPORT GIVES LAWMAKERS A ‘MENU OF OPTIONS’

LINCOLN — A new Platte Institute report outlines options for expanding Nebraska's sales tax to services such as hair care, medical care and motor fuel to address declining revenue and a projected $1.2 billion state budget shortfall. The report estimates that taxing additional services could generate more than $1.6 billion by 2028, potentially helping preserve income tax cuts approved in 2023. Platte Institute CEO Jim Vokal said Nebraska's sales tax structure has not kept pace with the state's increasingly service-based economy, giving lawmakers options to consider as they address budget challenges.

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