We oppose LB 405 because it would result in a regressive tax structure that puts that good life at risk. By depleting a significant portion of revenue for the state, this proposal reverses the investments we have made for generations in the very things that make Nebraska strong – great public education, safe communities, and healthy families. We recognize the need for a review of the current tax structure, but such a review should occur prior to major changes in our tax structure.
Our working and middle class families are the engine of our state’s economy. These are Nebraskans that work hard to reach for the American Dream. But, LB 405 means their earnings will not go quite as far. They will likely spend less in their local economy, struggle to send their children to college, and face longer odds to improve their situations. LB 405 and LB 406 are not solutions for Nebraska, and we urge the Revenue Committee to reject this legislation.