Gov. Dave Heineman today announced support of Legislative Bill 405 by the Department of Nebraska Veterans of Foreign Wars (VFW) Council of Administration. On January 26, the group voted unanimously to endorse the comprehensive tax reform bill that calls for the elimination of Nebraska's state income tax. Under LB 405, taxes would be eliminated on retirees, including military veterans.
"I would like to thank the Veterans of Foreign Wars for their support of LB 405 by adopting a modern, simpler and fairer tax code, we have the opportunity to make Nebraska a top ten business tax climate state so that our sons and daughters can find careers right here in Nebraska and that our seniors and retirees will stay because Nebraska will no longer tax their Social Security and retirement income."
"LB 405 represents fairness and growth and a better future in Nebraska for our veterans and their children," said John Hilgert, Director of Nebraska's Department of Veterans Affairs. "The future is what these men and women fought for. Today you see them coming forward once again; to stand up for our future. They have answered their country's call. Now they are calling on our Legislature to answer their call for fairness and growth."
"As the Commander of the Veterans of Foreign Wars, I along with all veterans feel the support of the Governor and LB 405 will help all veterans and their families," said Dave Beran, State Commander of VFW. "We stand united in this cause."
Gov. Heineman outlined his bold and innovative tax reform plan in his recent State of the State speech given to the Nebraska Legislature. LB 405 eliminates half of Nebraska's sales tax exemptions in an effort to eliminate the individual and corporate income tax. In addition, there would be no tax on military retirement income and social security income.