“We have to compete better (with other states)” is the rallying cry of Nebraska Governor Pillen. A few weeks ago, Nebraska proposed tax cuts and incentives to try to make the state more competitive to attract businesses and people to the state.
The tax proposal includes:
- Gradual reduction in state personal & corporate income tax rates to 3.99%
- Changes to how agricultural property is values for tax purposes.
- Eliminate state income tax on social security income.
There are also other tax cuts you can read about here.
According to NAR, Nebraska had a domestic net migration -4,470 people in 2022 and grown of 0.2% for the same year.
An article from NewsNation states that Nebraska continues to have teacher labor shortage and notes the following:
Teacher shortage
In the Nebraska Department of Education’s 2020-2021 Teacher Vacancy Survey Report, school districts reported 238 unfilled positions with fully qualified personnel. Of those positions, 38 were in districts with less than 500 students.
Teacher shortage solutions
The Attracting Excellence to Teaching Program is one of Nebraska’s teacher recruitment initiatives. The plan provides forgivable loans to eligible students who are enrolled in an undergraduate or graduate teacher education program in the state working toward their initial certificate to teach in Nebraska.
NewsNationNow.com
Will Nebraska be successful with their tax proposal and subsequently attract businesses and people to the state? Only time will tell so stay tuned, stay profitable and stay solvent…