Controversial canal along South Platte River in Colorado now on Nebraska's front burner after COVID
LINCOLN, Neb. — Nebraska Gov. Pete Ricketts ramped up his push Wednesday for income tax cuts, a new state prison and a $500 million canal to claim water from Colorado, arguing that the state is expected to collect more than enough revenue to pay for it all.
The Republican governor’s remarks came just days after a state board predicted that Nebraska will receive $775 million more than expected. That will leave lawmakers with nearly $500 million in available cash for new spending, plus a projected $1.7 billion cash reserve and $1.04 billion in federal pandemic money.
“With these stronger forecasts, it makes it even more important that we hit upon all these different priorities,” Ricketts said at a news conference.
Ricketts has endorsed a measure that would lower Nebraska’s top individual and corporate income tax rate, which would benefit many middle-class taxpayers but would give a much larger boost to the state’s highest income earners. Taxpayers who earn at least $1 million a year account for more than half of all income reported in Nebraska, but they pay about 10% of the state’s total income taxes.
Read more: https://coloradosun.com/2022/03/02/south-platte-river-canal-nebraska-colorado-pete-ricketts/