Governor Ricketts Signs Three Bills To Avoid Looming Tax Increases

Governor Ricketts Signs Three Bills To Avoid Looming Tax Increases

LINCOLN, Neb. (AP) – Nebraska Gov. Pete Ricketts has signed three tax measures designed to shield residents from looming tax increases.

Ricketts approved the bills on Tuesday, one day before lawmakers convene for the last day of this year’s session. The governor says the measures will help taxpayers, but he’s disappointed lawmakers didn’t approve his property and corporate tax package.

One measure signed will adjust the state’s Social Security income tax brackets automatically to keep pace with inflation, starting in 2020. Another will prevent the new U.S. tax law from requiring Nebraska taxpayers to pay more on their state taxes.

The third new law will adjust Nebraska’s personal property tax so that farmers and businesses are held harmless on taxes they owe for business equipment. The federal law could have made them pay more.