Gov. Pete Ricketts insists his tax relief package is not dead, just done for this legislative session.
Ricketts points out his proposed combination of income and property tax relief simply couldn’t must the votes needed to overcome a filibuster.
“Well, the tax plan did not advance, but we’re going to continue to work it and I don’t know how much opportunity there is to bring it up yet again this year, but we’ll certainly continue to work on it over the course of the summer and into next year,” Ricketts tells reporters. “As you know, the bill was not killed. It just did not advance. We will continue to work to see if we can get the votes to get it to move on. ”
Ricketts says he hasn’t spent much time analyzing why he fell six votes short.
“You know, with all the other things going on with the budget, we haven’t had a tremendous amount of time to visit with a lot of different senators on what we could do to get to 33 votes,” Ricketts says. “We will obviously have more time with that over the course of the summer after the session is done.”
LB 461 fell six votes shy of the total needed to end the filibuster and go to a vote. The legislature voted 27-9 vote on a cloture motion by Sen. Jim Smith of Papillion, the sponsor of the measure. It takes 33 votes to end a filibuster.
LB 461 proposed cutting the top state individual and corporate tax rate gradually, at about one-tenth of a percent at a time until it dropped from the current rate of 6.84% to 5.99%. The measure would change the valuation method used to asses agricultural land for property tax purposes from the current market-based method to one based on the income potential of the land.
The issue could be revived in the Unicameral next year.