EPIC Consumption Tax

the EPIC Consumption Tax

On January 7, 2021, Senator Steve Erdman of Bayard introduced:

LR 11 CA and LB 133

the EPIC Consumption Tax.

These legislative measures eliminate Nebraska's current tax structure and replace it with one consumption-based tax, eliminating confiscatory taxes on both property and income.

Last year we ended the 106th Nebraska Legislative Session without advancing LR 300 CA out of the Revenue Committee. This year Sen. Erdman has re-introduced the resolution with a companion implementation bill for the 107th Legislature.

Alas! Two More Years of Refusal

On March 31, 2021, the Revenue Committee voted LR11CA out of committee on a 6 to 2 vote!

It was debated on the floor and voted on for the first time on Wednesday, May 5, and fell just two votes short. Most senators do not understand how taxes work. This does not make them bad people as they face many conflicting priorities. Taxation is one of the driest but most impactful issues on everyday Nebraskans. Our senators do their best to balance the issues.

You still can help make this solution to Nebraska's tax problem happen! We have found that an overwhelming majority of taxpayers in Nebraska want the kind of relief our plan offers. We need you to stay in touch with us, learn as much as you can about this issue, and prepare for the next step. To stay in touch, click here or use the Subscribe buttons at the top or bottom of this page.

Why keep up? Calculate your own savings, following:

Your Savings Calculator

Download this calculator speadsheet and estimate your savings!

Instructions:

A. Total Real estate taxes on your home, business property, farmland, or ranchland

B. Individual state income tax + corporate income tax paid last year

C. Taxes paid on equipment

D. Taxes paid on restaurant dining, new or used homes, new or used vehicles or equipment, new or used furniture - clothes - household items, etc.

E. Wheel tax, or _________________

F. Consumption tax will be paid on retail services and new products like new clothes, household items, legal work like family wills, accounting work for your famiy barbering services, insurance premiums, hair dressing and tatooing, etc.

Estimate your total here: $_____________ X .02 = $__________

Insert the amount of sales tax paid at letter (D) which is now Consumption Tax = $__________

Add thes two columns for your Total estimated EPIC Consumption Tax