'One Big Beautiful Bill' projected to cost Nebraska over $216 million in tax revenue (over 2 years)

[Omaha Steve]

Nebraska Department of Revenue predicts federal bill will cost state government more than $406 million over four years
By: Erin Bamer - September 2, 2025 4:20 pm



LINCOLN — A report from Nebraska’s Department of Revenue projects that the federal budget reconciliation bill will cost state government more than $216 million over the next two years.

The department released the analysis as part of a state law that requires it to report to the Nebraska Legislature within 60 days of a change to the national Internal Revenue Code. Congress’ ‘One Big Beautiful Bill’ that passed on July 4 was the subject of Tuesday’s report.

DOR’s analysis spanned the next four fiscal years ending in 2029. It surmised that the expected losses in corporate and individual income tax revenue will cost Nebraska more than $406 million over those four years. Within the two years that make up the existing biennial budget, the losses would equal roughly $216 million.

This will likely dent the state budget, but the projected impact won’t be clear until Nebraska’s Economic Forecasting Advisory Board next meets in October. Legislative Fiscal Analyst Keisha Patent said the board will consider this report, along with several other factors, including the state’s monthly tax receipts, when making state revenue projections.

FULL story: https://nebraskaexaminer.com/2025/09/02/one-big-beautiful-bill-projected-to-cost-nebraska-over-216-million-in-tax-revenue-in-state-budget/

[UpInArms]

1. The big butt ugly bill

Will be the bane of the group of pedophiles for years to come

[TheFarseer]

2. Don't worry

They’ll just cut WIC and education. Everything will be fine. We’ll probably still fund the voucher program that voters keep voting to get rid of. Just cut public schools where poor people and infidels learn to be good little communists.

[hatrack]

3. OHNoanyway . . . .

[BoRaGard]

4. "Ha ha. Cornhusker suckers. Ha ha." - Krasnov & GOP Krewe (r-grifters)

GOP makes suckers and loser wherever it goes.

[marble falls]

5. Or as TACO would say ...

... suckers and losers. I loved the the six years I spent in Nebraska in the 90s. I am surprised they allowed themselves to be taken by a shyster.

I lived in 55.

[MichMan]

6. Can someone explain how cuts in Federal income taxes are directly causing the states to lose revenues?

DOR’s analysis spanned the next four fiscal years ending in 2029. It surmised that the expected losses in corporate and individual income tax revenue will cost Nebraska more than $406 million over those four years.

Are they saying that things like the $6000 tax credit for seniors and the lifting of the SALT caps all cost the state money?