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Neb. governor looks to end state income, corporate taxes

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    Gov. Dave Heineman embarks on an ambitious tax overhaul plan

  • Duration 3:39
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And yes your federal payroll taxes just -- up but you might have good news if you live in either Louisiana or Nebraska because both Republican governors of those two states are trying to get rid of their State's personal and corporate income taxes Nebraska governor Heineman joins it's nice to see is certain.

Good to see you -- Governor I imagine that that many -- essentially some of them are quite happy hearing you say that you ought to get rid of your state income tax and yours and your corporate tax.

But that wordy and tend to get revenue to run your state.

Greta the way were gonna -- -- and -- give were proposing the elimination of the individual income to actually corporate income tax.

And the income got to come by repealing so the sales tax exemptions that we -- to businesses over the years.

-- I've had many conversations with them they're looking for -- simpler and fairer tax code.

And again people -- -- pretty excited about the idea it would eliminate the individual income tax.

I imagine though -- -- -- invention that sales exemption tax and acne particularly fond of this idea I mean I didn't convince those people that this is a good idea.

Well that's the challenge we have but again many of these were -- were limited 45 decades ago.

We had a different economic environment -- and and again as I talked to business leaders they said you know what if you could make it simpler and -- we're willing to go through that process it's not going to be easy.

But again the bigger picture here we can be more attractive for jobs and higher paying jobs.

If we don't have an individual income tax and a corporate income tax.

-- here as I say you're hysteria personal income tax -- not listed about six point as six point 8% is that about right.

That that's about right and that's what your small business who you would pay and that's simply too high.

I and do you have made Democrat legislature are Republican does that make a big difference whether or not you get your program put there or not.

Well -- as you -- Nebraska we have quoted nonpartisan legislature unicameral.

But we do have more Republicans and Democrats and again I think they'll listen to those citizens of our state and we're gonna work very very hard to get this simple that it.

In terms of your income tax what I did their reluctance of the neighboring states because that's what -- a lot of governors are trying to do this aren't trying to gain each other and see how the other states are because that's summation -- -- not competitive who oftentimes as the tax rate of their of their neighbor.

-- -- -- -- -- Well Greta that's one of -- reason I'm seriously considering this.

Two of our five neighboring states have no.

Income tax so this is really important.

To our state we also compete in the global economy.

So I'm very well aware of those effective the lower your rates are the better off you are in the best rate of all -- zero that's what we're trying to get to.

And of course said -- spoken to governor Jindal because he also this week said that he wants to do essentially the same thing his -- spoken to him.

No I'm not I saw Bobby old couple months ago I was nowhere that he was gonna do this but I'm not surprised.

Many governors across the country are gonna look at eliminating their individual income tax if they can do it.

But I suspect I heard Sean Hannity tonight he may be moved from New York I think the Nebraska when he gets wind of that Nebraska maybe even -- Louisiana who knows because.

He's got a pretty stiff income -- a state income tax in New York so maybe a good shot candidate but both -- and say governor.

Thank you I says he has --

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