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Gov. Pillen Highlights Key Takeaways from Recent General Fund Receipt Report
LINCOLN, NE -- Governor Jim Pillen is highlighting key takeaways from the most recent General Fund Receipt Report, published today by the Nebraska Department of Revenue.
State receipts continue to be on track for FY 2027. Total receipts for August exceeded the certified forecast by $7.6 million.
Sales tax receipts remain stronger than projected, exceeding the forecast by over $60 million so far, this fiscal year. While gross individual income tax receipts are 5% below forecast, they are down only $1.5 million below the same period of last fiscal year, despite implementing historically low-income tax rates. Income tax refunds are also $37 million below prior year levels so far, tracking nearly exactly with the consensus cash flow forecast.
“Our revenue is on track. That’s great news, but we still have a lot of work ahead of us to deliver a balanced budget for hard-working Nebraskans,” said Gov. Pillen. “Continued spending cuts will further ensure the state is living within its means. That’s running government like a business, and it’s what Nebraskans expect of us.”
