Beau McCoy announces tax relief plan - Scottsbluff Area News, Sports, and Weather

Beau McCoy announces tax relief plan

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One GOP candidate for the Nebraska governor seat has unveiled tax-cut proposals that he plans to introduce as a state senator, once the legislature convenes on Wednesday.

Senator Beau McCoy announced his plan on Monday as lawmakers prepare to begin a new session.

His plan mentions reducing the taxable value of farm and ranch land to 65 percent of market value, from the current 75 percent.

It also would increase funding for the state's property-tax credit program.

McCoy says he will work to achieve bringing tax relief to small business owners.

"We have a lot of small business owners, like myself where we have a construction company, that own commercial property who deserve tax relief as well. And that's what I'll get and they will get through the property tax credit relief fund."

Republican State Senator Charlie Janssen also released a tax relief bill. It too reduces taxes on farm and ranch land. But also cuts income tax rates and exempts social security and military retirement income from taxation.

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