Sen. Bob Krist says Gov. Ricketts’ Tax Plan would give Huge Tax Breaks to the Rich

State Sen. Bob Krist said today that Gov. Pete Ricketts proposed property tax reform would provide huge tax breaks for the wealthy including the governor’s own family.

“From the day he stepped into office, Pete Ricketts has demanded special tax breaks for the rich while abandoning the rest of us. In fact, the Governor’s tax reform bill, LB 947, could result in as much a​s​ ​a ​$13​ million windfall to his dad’s company,” Krist said.

“The governor’s plan called for cutting the corporate income tax rate from 7.81 to 6.84 percent, resulting in a corporate tax cut of ​as much as ​$13​ million by 2023 for TD Ameritrade, Ricketts’ family business,” Krist said.

“Gov. Ricketts’ my-way-or-the-highway demand for corporate income tax cuts has resulted in yet another year of hardship for Nebraska taxpayers, while lining the pockets of his own family business,” Krist said.

Krist said the criticism about Ricketts giving huge tax breaks to the most wealthy Nebraskans is coming from his own party members.

“In an interview earlier this week with KODY Radio in North Platte, Republican State Sen. Mike Groene, said Ricketts not only doesn’t understand how bad the problem is, he insists on helping his friends cut their taxes,” Krist said.

Senator Groene: “They claim it’s about property tax but it’s a corporate income tax cut. He (Ricketts) wants corporate income tax cuts, (he) doesn’t understand how bad the property tax problem is. He’s saying property tax relief, but look behind the curtain. He wants corporate income tax cuts for his friends.”

“Senator Groene is correct; he has never really cared about helping the average Nebraska family. Ricketts agenda has always been to cut taxes on people like him and let the rest of us pick up the tab,” Krist said.

“Pete Ricketts has failed for nearly four years to unite urban and rural senators and find real solutions to the property tax crisis. Frankly, he lacks the leadership skills necessary to move our state forward. His approach has resulted in lost trust from average Nebraskans who work hard everyday to make ends meet,” Krist said.