Via AP Business

LINCOLN, Neb. (AP) — A proposal designed to lower property taxes by raising Nebraska’s sales and cigarette taxes appears to be on a collision course in the Legislature, with Gov. Pete Ricketts lobbying hard against it while some lawmakers say it’s a necessary fix.

Ricketts railed against the proposal again on Wednesday, but his protests so far haven’t persuaded members of the Revenue Committee to drop the measure. A public hearing is set for 4 p.m. at the Capitol.

Ricketts says the proposal won’t work as intended, and points to similar attempts in the 1990s to lower property taxes by increasing other taxes and boosting state aid to K-12 schools. Those efforts failed to fix long-term property tax increases.

Ricketts was joined by business leaders who could lose sales tax exemptions under the bill.

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