Major farm groups oppose Nebraska business tax credit bill
LINCOLN, Neb. (AP) — Two of Nebraska’s largest farm groups are objecting to a bill that would create new business tax credits to replace the state’s current major incentive program.
The Nebraska Farm Bureau and Nebraska Farmers Union say they oppose the bill because lawmakers haven’t yet approved a plan to lower property taxes. The Nebraska Farm Bureau argued Tuesday that lawmakers are running out of time in this year’s session and need to focus on property taxes.
Business groups have defended the incentives as critical to maintain a competitive business environment in Nebraska relative to other states.
Nebraska Farmers Union President John Hansen says the state’s tax incentives aren’t cost effective and haven’t worked as intended. The incentives were also criticized by two former lawmakers who led the Legislature’s Performance Audit Committee.