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Gov. Ricketts on New Revenue Forecast: Tax Relief This Year

Statement

Date: Feb. 29, 2016
Location: Lincoln, NE
Issues: Taxes Government Budget and Spending

Today, Governor Pete Ricketts issued a statement commenting on the Nebraska Economic Forecasting Advisory Board's revision to forecasted state General Fund revenue for the current budget biennium.

The board estimates that General Fund tax receipts for FY2015-2016 will exceed the certified forecast by $17 million. This represents an increase from the board's October revision. The board also slightly revised its forecast of General Fund revenue for FY2016-2017 upwards by $13 million.

"My top priority for this legislative session is structural property tax relief, and today's report shows the Legislature and I can deliver for the hardworking Nebraska families, who are asking us to address our state's high property tax burden," said Governor Ricketts. "I will continue to work with the Appropriations Committee to pass a balanced budget that holds the rate of growth in spending to about three and a half percent. Any excess revenue should be returned to the people through tax relief, and should not be used to grow state government spending."


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