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Jan. 26, 2023Lincoln, Neb. |  By: AP

Governor hawks tax cuts, increased school funding in address

taxes

LINCOLN, Neb. (AP) - Nebraska Gov. Jim Pillen has delivered his first State of the State address in the state Capitol on Wednesday, spelling out plans to drastically cut taxes while increasing funding to state schools.

Pillen reiterated his plans announced earlier this month to increase K-12 public education funding by more than $2 billion over the next six years while cutting income and property taxes.

His proposed two-year budget would hold annual growth to just 1.3%, increasing spending by $164.6 million next fiscal year over the current year, and keeping the budget nearly flat the following 2024-25 fiscal year, with a proposed $500,000 increase. Nebraska's annual budget is about $4.5 billion