COVID-19 Scare Stokes Worries About Nebraska Tax Collections
March 1, 2020 8:20AM CST
LINCOLN, Neb. (AP) – Nebraska state government could see a boost to its emergency fund over the next few months, but the COVID-19 virus and a panicked stock market are tempering some of those expectations. Members of the Nebraska Economic Forecasting Advisory Board predicted Friday that the state will collect $5.2 billion in tax revenue during the current fiscal year, which ends June 30.
That’s about $115 million more than the previous projections, and by law, that excess money will go into Nebraska state government’s cash reserve fund. But board members warned that the outlook could change quickly given the last week’s market selloff and growing fears about the virus.
