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State's cash reserves hit all-time highTell North Platte what you think

Nebraska's General Fund receipts in June were $28 million higher than forecasted, and in the face of the surplus, Gov. Dave Heineman wants to lower taxes.

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Net General Fund revenues for June were above the Nebraska Economic Forecasting Advisory Board projections by nearly $28 million, with $390 million in actual receipts compared to $362 million that was projected for the month.

As fiscal year 2012-2013 ended, tax receipts were above projections by nearly 7.6 percent, the Nebraska Department of Revenue said.

When upcoming transfers are made, Nebraska’s cash reserve will be approximately $679 million becoming the largest cash reserve in state history, Heineman said.

“With the largest cash reserve that the State has ever had and a consistently improving economy, it is time to provide the citizens of Nebraska tax relief," Heineman said. "Tax relief should be the top priority of the next legislative session.”

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The North Platte Bulletin - Published 7/10/2013
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