Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
We welcome for our furthest first the grand appearance of
the new year CEO of the Plaid Institute, Jim Vocal James.
Speaker 2 (00:07):
Good morning, Good morning, gentlemen.
Speaker 1 (00:08):
Good to have you back. They just got underway officially
now in the state legislature, and we'd like to keep
up on things with you relatives, specifically to monetary issues
at taxes. And I'm at pains to point out that
you always talk spending too as a key element in
this calculation. How optimistic are you with thirty three Republican
(00:31):
votes that something positive will be done on both fronts
in this session? And what might it be?
Speaker 2 (00:37):
Two tough issues, a lot of different levers, a lot
of different forces down there, pulling centators different ways. The
challenge with property tax relief is the state is not
a property tax identity, but everybody looks the state to
lower your tax burdens. So here's the landscape, right there
was a shot across the bow from the forecasting board
recently that forecasts revenue forecasts look like we're about four
(01:00):
thirty two million behind what they expected. And so where
where's the cask going to come from? If the state
is truly in that landscape? And it may not be
where's that cask going to come from for tax relief?
Speaker 1 (01:12):
You're and how did we get here? If that's true?
What rose you think it is political? It's a politicantly
completely political. I think it's bs. I think by the
seventieth day of the session suddenly that four hundred and
thirty one will be a two hundred million dollars surplus.
Speaker 2 (01:25):
And it certainly could and history shows that. But I
did podcasts with Speaker Archie says that it is real,
it is serious. The Appropriations chairs said no money for
tax weave. So so the state has options if that's
If that's the case, you got to either cut spending
or you've got to look at different revenue sources, right yep.
And you have exemptions you can eliminate. Raising taxes on
(01:47):
cigarettes isn't great because it's not predictable income. So there's
some significant challenges down if you want to look at
proper text. Really, but there are no cost or low
cost solutions down there available. We can strengthen the caps.
The caps were passed last summer, guys weren't exactly strong.
We can look at what Texas does that you've got
to bring those rates down when valuations go up to
completely offset those valuation increases. So there are things to do.
(02:11):
Eliminate the inheritance tax. One of what five states that
still has that that on the books, So there are
options out there even if you don't have cash. But
if you need the revenue.
Speaker 1 (02:22):
How much revenue does the state get? I guess I
could have looked at it from inheritance tax.
Speaker 2 (02:27):
Oh, inheritance tax about thirty million dollars a year, and
that money goes to the counties, and it's not predictable,
it's not reliable, it's not necessarily even budgeted, and so
why do we want to be, like, why don't we
want to be like forty five other states that have
taken this off the books. And so we really are
championing this and hope that we get this off the
(02:47):
off the books because it does matter. When people look
to locate to the states, they look at income taxes,
the property taxes, look inheritance tax, and forty five other
states have found a way to do it.
Speaker 3 (02:58):
The issue I believe that makes it political, And with
all due respect to Speaker Arts, there are others who
believe like I do, that this is a bunch of Huha,
this four hundred and thirty one million dollar gap that
no bottom line this is this is about slowing down
the drop in income tax, which, as you know as
(03:20):
a graduate, a gradual based in five years. They say
things like, well, we're four hundred and thirty million in
the whole, so let's pause that.
Speaker 1 (03:29):
Okayn't do that.
Speaker 3 (03:29):
Can't do that. That's what we're talking about. That's the
political gerrymandering that goes on down there with public statements.
But the governor continues to be extremely bullish on this.
He thinks he's got a better plan.
Speaker 1 (03:42):
Now.
Speaker 3 (03:43):
May have learned some lessons over the special session, but
it continues to be the one thing that Nebraskans absolutely demand. Now,
I don't know why the demand at election time doesn't
transfer into the demand when a state senator gets to
make a decision. So I'm a little lost on that,
and I'm also a little bit concerned because of the
(04:03):
forty nine full brights, we have sixteen new ones and
we don't have Walt Radcliffe anyhow. Walt Radcliffe was the
de facto instructor for rookie senators about how it works
down here. Now, I personally think that the governor should
be recruiting Doug Christensen for this. Doug is now retired
Chancellor of UNK. Doug is living in Carney and is
(04:25):
capable of moving to Lincoln temporarily.
Speaker 1 (04:28):
I think he likes retirement.
Speaker 3 (04:29):
I think he likes being involved. But nobody, and he
teaches federalism in foreign countries. Nobody understands walking the earth
in my view, other than Walt, and Walt's not walking
with this anymore understands the unicameral better than Doug Christensen.
But this guy can explain here is how it works,
and here is how things get done. Otherwise you get
bad legislation. Not a minute with Jim Bocal. They've chopped
(04:51):
a little wood on reducing or eliminating some sales tax exemptions.
You think there'll be more this session.
Speaker 1 (04:58):
They really have it so well? Did that? So that
was defeating. I'm trying to remember that defeat.
Speaker 2 (05:06):
We've got we've got six billion and services and goods
that exempt from sales tax revenue.
Speaker 1 (05:13):
Because okay, because I'm remembering the dog rumor thing was
on there.
Speaker 3 (05:16):
Right now, that was all limited. The only thing we
got was some soft caps on city spending unrelated to prevacy.
Speaker 1 (05:23):
Well, let me reframe at them. Do you think they'll
do anything on it this time?
Speaker 3 (05:27):
They may.
Speaker 2 (05:27):
You got to leave I think that what we learned
from the special session from the Platt and so you
got to leave business and AAG inputs alone. You got
to avoid revenue sources that are not predictable. Those are
gonna be challenged by a lawsuit or cigarette taxes, and
so there may be a push for that if you're
gonna if you're gonna need to raise some revenue. But
going back to those caps, the formula is based on
(05:51):
the average expenditures from city and counties across the country.
It's between six and seven percent, and schools are exempts.
So I would focus on strengthening the caps. The other
momentum that we see right now is on regulatory modernization reform.
Right regulations are a hidden tax. We're championing that. We know,
we're confident that there's bipartisan support for that. An alternative
(06:12):
to tax reform, it's a little bit easier, but we've
got the atheist property taxes in the country. We haven't
one of five states within the inheritance tax. We've got
to solve the problem. It's tied to spending. It's tied
to local spending, and it's going to be challenging. But
I think that there's consensus by the governor and the
Senators and the plat Institute that we got to do something.
Speaker 1 (06:32):
As MICHAELA. Kavanaugh melded down, you know, it's only the
first day. First day, I don't think she has. But
that's always entertaining. Jim, thank you for coming.
Speaker 3 (06:40):
Here entertaining it is.
Speaker 1 (06:42):
It's infuriating that too, yeah, Jim vocal
We welcome for our furthest first the grand appearance of
the new year CEO of the Plaid Institute, Jim Vocal James.
Speaker 2 (00:07):
Good morning, Good morning, gentlemen.
Speaker 1 (00:08):
Good to have you back. They just got underway officially
now in the state legislature, and we'd like to keep
up on things with you relatives, specifically to monetary issues
at taxes. And I'm at pains to point out that
you always talk spending too as a key element in
this calculation. How optimistic are you with thirty three Republican
(00:31):
votes that something positive will be done on both fronts
in this session? And what might it be?
Speaker 2 (00:37):
Two tough issues, a lot of different levers, a lot
of different forces down there, pulling centators different ways. The
challenge with property tax relief is the state is not
a property tax identity, but everybody looks the state to
lower your tax burdens. So here's the landscape, right there
was a shot across the bow from the forecasting board
recently that forecasts revenue forecasts look like we're about four
(01:00):
thirty two million behind what they expected. And so where
where's the cask going to come from? If the state
is truly in that landscape? And it may not be
where's that cask going to come from for tax relief?
Speaker 1 (01:12):
You're and how did we get here? If that's true?
What rose you think it is political? It's a politicantly
completely political. I think it's bs. I think by the
seventieth day of the session suddenly that four hundred and
thirty one will be a two hundred million dollars surplus.
Speaker 2 (01:25):
And it certainly could and history shows that. But I
did podcasts with Speaker Archie says that it is real,
it is serious. The Appropriations chairs said no money for
tax weave. So so the state has options if that's
If that's the case, you got to either cut spending
or you've got to look at different revenue sources, right yep.
And you have exemptions you can eliminate. Raising taxes on
(01:47):
cigarettes isn't great because it's not predictable income. So there's
some significant challenges down if you want to look at
proper text. Really, but there are no cost or low
cost solutions down there available. We can strengthen the caps.
The caps were passed last summer, guys weren't exactly strong.
We can look at what Texas does that you've got
to bring those rates down when valuations go up to
completely offset those valuation increases. So there are things to do.
(02:11):
Eliminate the inheritance tax. One of what five states that
still has that that on the books, So there are
options out there even if you don't have cash. But
if you need the revenue.
Speaker 1 (02:22):
How much revenue does the state get? I guess I
could have looked at it from inheritance tax.
Speaker 2 (02:27):
Oh, inheritance tax about thirty million dollars a year, and
that money goes to the counties, and it's not predictable,
it's not reliable, it's not necessarily even budgeted, and so
why do we want to be, like, why don't we
want to be like forty five other states that have
taken this off the books. And so we really are
championing this and hope that we get this off the
(02:47):
off the books because it does matter. When people look
to locate to the states, they look at income taxes,
the property taxes, look inheritance tax, and forty five other
states have found a way to do it.
Speaker 3 (02:58):
The issue I believe that makes it political, And with
all due respect to Speaker Arts, there are others who
believe like I do, that this is a bunch of Huha,
this four hundred and thirty one million dollar gap that
no bottom line this is this is about slowing down
the drop in income tax, which, as you know as
(03:20):
a graduate, a gradual based in five years. They say
things like, well, we're four hundred and thirty million in
the whole, so let's pause that.
Speaker 1 (03:29):
Okayn't do that.
Speaker 3 (03:29):
Can't do that. That's what we're talking about. That's the
political gerrymandering that goes on down there with public statements.
But the governor continues to be extremely bullish on this.
He thinks he's got a better plan.
Speaker 1 (03:42):
Now.
Speaker 3 (03:43):
May have learned some lessons over the special session, but
it continues to be the one thing that Nebraskans absolutely demand. Now,
I don't know why the demand at election time doesn't
transfer into the demand when a state senator gets to
make a decision. So I'm a little lost on that,
and I'm also a little bit concerned because of the
(04:03):
forty nine full brights, we have sixteen new ones and
we don't have Walt Radcliffe anyhow. Walt Radcliffe was the
de facto instructor for rookie senators about how it works
down here. Now, I personally think that the governor should
be recruiting Doug Christensen for this. Doug is now retired
Chancellor of UNK. Doug is living in Carney and is
(04:25):
capable of moving to Lincoln temporarily.
Speaker 1 (04:28):
I think he likes retirement.
Speaker 3 (04:29):
I think he likes being involved. But nobody, and he
teaches federalism in foreign countries. Nobody understands walking the earth
in my view, other than Walt, and Walt's not walking
with this anymore understands the unicameral better than Doug Christensen.
But this guy can explain here is how it works,
and here is how things get done. Otherwise you get
bad legislation. Not a minute with Jim Bocal. They've chopped
(04:51):
a little wood on reducing or eliminating some sales tax exemptions.
You think there'll be more this session.
Speaker 1 (04:58):
They really have it so well? Did that? So that
was defeating. I'm trying to remember that defeat.
Speaker 2 (05:06):
We've got we've got six billion and services and goods
that exempt from sales tax revenue.
Speaker 1 (05:13):
Because okay, because I'm remembering the dog rumor thing was
on there.
Speaker 3 (05:16):
Right now, that was all limited. The only thing we
got was some soft caps on city spending unrelated to prevacy.
Speaker 1 (05:23):
Well, let me reframe at them. Do you think they'll
do anything on it this time?
Speaker 3 (05:27):
They may.
Speaker 2 (05:27):
You got to leave I think that what we learned
from the special session from the Platt and so you
got to leave business and AAG inputs alone. You got
to avoid revenue sources that are not predictable. Those are
gonna be challenged by a lawsuit or cigarette taxes, and
so there may be a push for that if you're
gonna if you're gonna need to raise some revenue. But
going back to those caps, the formula is based on
(05:51):
the average expenditures from city and counties across the country.
It's between six and seven percent, and schools are exempts.
So I would focus on strengthening the caps. The other
momentum that we see right now is on regulatory modernization reform.
Right regulations are a hidden tax. We're championing that. We know,
we're confident that there's bipartisan support for that. An alternative
(06:12):
to tax reform, it's a little bit easier, but we've
got the atheist property taxes in the country. We haven't
one of five states within the inheritance tax. We've got
to solve the problem. It's tied to spending. It's tied
to local spending, and it's going to be challenging. But
I think that there's consensus by the governor and the
Senators and the plat Institute that we got to do something.
Speaker 1 (06:32):
As MICHAELA. Kavanaugh melded down, you know, it's only the
first day. First day, I don't think she has. But
that's always entertaining. Jim, thank you for coming.
Speaker 3 (06:40):
Here entertaining it is.
Speaker 1 (06:42):
It's infuriating that too, yeah, Jim vocal
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