LINCOLN, Neb. (AP) - The chairman of the Nebraska Legislature's budget-writing committee is bracing for a sharp drop in tax revenue that could affect the state for the next three years.
Sen. John Stinner, head of the Appropriations Committee, made the comments in a webinar hosted by the Platte Institute, a Nebraska government-policy think tank.
Stinner said he can't predict how the coronavirus outbreak will affect the state's finances, but he speculated that it could force lawmakers to shelve any bill that costs money, including property tax measures and a business incentive package.
"This is really kind of a fluid situation," he said.
Stinner said federal relief money for the state and local governments could help the situation, and things might improve if the country manages to avoid a major recession or depression