The chances of Nebraskans seeing significant tax cuts in the coming years grew by $775 million Monday, thanks to a rosy new forecast of state revenues. The new projections would push the state’s cash reserve fund to a record $1.7 billion by the end of the two-year budget period.
The Nebraska Economic Forecasting Advisory Board boosted its revenue projections for the two years ending June 30, 2023, by $775 million. Governor Ricketts and some senators say the new forecast should convince lawmakers to pass even more tax relief than what’s been discussed this year.
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