A Nebraska lawmaker has an unconventional idea for the state tax system: Let taxpayers become investors
LINCOLN, Neb. (AP) - A Nebraska lawmaker has an unconventional idea for the state tax system: Let taxpayers become investors.
Sen. Paul Schumacher of Columbus presented a bill Tuesday that would give Nebraskans the option pay more taxes up-front, in exchange for an inflation-adjusted tax credit in the future. The credit would yield the same interest as a 10-year Treasury bill, and would be applied to future tax liabilities.
Schumacher says the measure serves a double purpose: It would generate more up-front cash for roads projects, which are cheaper now than in the future, and would give savers a new place to invest.
The bill's future is unclear. Schumacher acknowledged the idea would be "an experiment," but members of the Revenue Committee gave him high marks for creativity.
The bill is LB82
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