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Peter Ricketts on Tax Reform

Republican Senate Challenger

 


Enacted $1 billion in annual state tax relief

In 2022, he worked to pass LB 873 which is the biggest tax relief package land is privately owned. Getting to 30% would require a major federal intervention. Setting aside that much land and water for conservation would also devastate food production, our rural communities, and our state's overall economy.
Source: 2024 Nebraska Senate campaign website PeteRicketts.com , Apr 7, 2023

Reduce top individual tax rate from 6.84% to 5.84%

Over the next five years, we must reduce the top individual tax rate by one percent--from 6.84% to 5.84%. For those who may try to brand this as a tax cut for the rich, I challenge you to ask Nebraskans earning $33,180 a year, or families earning $66,360 a year, if they feel rich. They make up the 418,900 Nebraskans in this tax bracket who deserve relief.
Source: 2022 State of the State Address to the Nebraska legislature , Jan 13, 2022

Property tax relief is a top priority

Property tax relief remains the top priority for the people of Nebraska. Last year, we successfully increased the Property Tax Credit Relief Fund from the state to the people of Nebraska by over 20%. I am recommending roughly $500 million in property tax relief over the next three years to help our farmers, ranchers, home owners, and businesses.

I have three principles: No tax increases, protect the Property Tax Credit Relief Fund, and encourage spending restraint in local governments.

Source: 2020 Nebraska State of the State address , Jan 15, 2020

Ease burden of property taxes; plus 3% local cap

Property tax relief is the number one priority Nebraskans want. My budget provides $51 million in new property tax relief through the Property Tax Credit Relief Fund. This is a 23 percent increase in property tax relief to all Nebraska property owners. [I am also] proposing to establish a three percent cap on property taxes levied by local governments. It comes in the form of a constitutional amendment, which must be approved by the people after receiving your consideration.
Source: 2019 State of the State address to the Nebraska legislature , Jan 15, 2019

Provide tax relief through property tax regulations

Last year, we successfully worked together to provide $408 million in direct dollar-for-dollar property tax relief through the Property Tax Credit Relief Fund. This year, we must make structural changes to property taxes through a bill that we propose to tighten spending and levy limits and to limit the statewide aggregate growth of agricultural property valuations to three percent. We must prioritize property tax relief, it's my number one priority this year.
Source: 2016 State of the State speech to Nebraska legislature , Jan 14, 2016

Protect taxpayers from bureaucracy & burdensome regulations

PROTECT TAXPAYERS: Pete will hold the line on taxes and keep state bureaucracy accountable by prioritizing transparency.

Pete will work to limit burdensome regulations and to improve Nebraska's tax climate to enable existing in-state businesses to grow in Nebraska and encourage out-of-state companies to relocate to Nebraska. Pete will also utilize his experience helping entrepreneurs to create the next generation of Nebraska businesses.

Source: 2014 Nebraska Governor campaign website, PeteRicketts.com , Nov 4, 2014

Supports line-item veto and fair & simple taxes

We need to give the president line-item-veto authority, prioritize spending and institute taxes which are fair and simple. I support reducing the size of government and making President Bush's tax cut permanent.
Source: Ben Thompson, North Platte Telegraph , Feb 7, 2006

Death tax is based on jealousy of high achievement

"The death tax is bad because it is impractical and because of what is says about us as a country," Ricketts said. "It is just wrong and is based on jealousy of high achievement. The death tax divides us; it does not bring us together."
Source: Ben Thompson, North Platte Telegraph , Feb 7, 2006

Other candidates on Tax Reform: Peter Ricketts on other issues:
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Bob Krist
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