Caution Please on Cutting Taxes in a Propped-Up Economy

Discussion has started on several bills that will have an impact on state revenue in what some warn are uncertain times. Omaha Sen. Brett Lindstrom’s priority measure (LB825) would fully exempt Social Security income from the state income tax and be phased in over the next four years ultimately costing the state $73 million a year by 2025. A 40 percent exemption this year would grow by 20…