Action Alert: Speak Out for Economic Growth
We urge you to contact state senators to let them know you support economic growth and expect common sense tax policy that protects growth.
The Legislature will soon debate a bill, LB468, to partially reduce the inheritance tax by eliminating various successful economic development programs that grow our state’s tax base. Of particular interest, the Committee Amendment to the bill, AM874, would strike down the Site and Building Development Fund, the Modernization Tier of the ImagiNE Act, and absurdly, even increases taxes.
PLEASE contact your senator to ask them to reject the economically dubious efforts to hamper economic growth as proposed under AM874 - the Committee Amendment to LB468.
The Nebraska, Omaha, and Lincoln Chambers of Commerce, the Nebraska Economic Developers Association, the Nebraska Realtors Association and other pro-growth organizations and individuals oppose shifting taxes and damaging successful economic development programs as proposed under LB468 and AM874. The Chambers testified at the hearing that, “achieving the goal [of inheritance tax repeal] should not come at the cost of vital economic development tools and reducing investments in tomorrow’s core industries.”
In contrast, Senator Eliot Bostar has developed an alternative approach that protects economic growth and doesn’t shift taxes. Senator Bostar’s amendment, AM1069, would gradually repeal (over 10 years) the inheritance tax without eliminating successful economic development programs or increasing taxes.
Senator Eliot Bostar and Senator George Dungan of Lincoln both serve on the Legislature’s Revenue Committee and rightly did not support the Committee Amendment to LB468. The Lincoln Chamber of Commerce greatly appreciates Senator Bostar and Senator Dungan for their strong stance in support of economic growth! Please contact them to thank them for their support.
For questions or additional information, contact Bruce Bohrer, Lincoln Chamber of Commerce Executive Vice President & General Counsel, at (402) 436-2358 or bbohrer@lcoc.com.