Blueprint Nebraska Unveils Tax Modernization Framework, Launches Statewide Dialogue on Path Forward
Lincoln, NE (March 4, 2021) – In a press briefing yesterday that included members of the Nebraska Legislature’s Revenue Committee, Blueprint Nebraska made the case for a bold and robust plan to modernize the State’s aging tax code and explained why such an effort is essential for the health and competitiveness of Nebraska’s economy. In attendance with Committee Chairperson Senator Lou Ann Linehan and Senator Tom Briese were Jim Smith, President of Blueprint Nebraska, Professor David Brunori of The George Washington University and Jim Greisch, National Industry Leader for Financial Services at RSM US L.L.P and Blueprint taskforce leader.
Blueprint Nebraska is a statewide strategic plan to grow the state economy by attracting talent and encouraging business investment. In building on the legacy and strength of Nebraska’s people, location and natural resources, the Blueprint model is focused on Growing the Good Life in every corner of the state.
Although the Blueprint Nebraska strategy for economic growth, competitiveness and prosperity targets 15 signature initiatives, one singular thread throughout the plan has the greatest immediate impact on talent recruitment and business investment . . . Nebraska’s tax system.
“It quickly became clear through the Blueprint Nebraska engagement process that Nebraska’s tax system isn’t doing us any favors – whether you are a producer, business owner, private homeowner or you live in rural or urban Nebraska,” said Jim Smith, President, Blueprint Nebraska.
“The status quo just isn’t cutting it anymore anywhere,” said Jim Greisch, Chair of Blueprint Nebraska’s Taxation and Incentives Industry Council and partner at RSM US L.L.P. “We wasted no time researching our options. At the end of the day, how well our tax code promotes growth is fundamental to our ability to grow jobs, attract young talent, and pursue our vision of strong communities.”
A combination of economic analysis and academic and tax think tank recommendations helped inform a list of potential strategies that state legislative leaders could consider, including long-term funding for property tax relief, simplifying income taxes to stimulate growth, and aligning economic incentive programs with Blueprint Nebraska initiatives. Recommendations also include the use of regional economic modeling to study and determine the best modernization tactics, including elements of broadening the state’s sales tax base.
The press conference coincides with the conclusion of legislative committee hearings for 2021. Learn more at Blueprint-nebraska.org.
