Balancing Nebraska’s budget

Edgar's picture

By Ricketts

Balancing the budget is not only a tradition in Nebraska, but it’s also a requirement because our state cannot borrow money to finance the state’s budget. Just like Nebraska households, state government does not spend money we do not have. This principle is so foundational to who we are as a state that Nebraska’s Constitution places strict limits on the state’s ability to borrow in Article XIII. This fiscal responsibility has earned Nebraska the distinction of ranking second best in the nation for fiscal health, according to the Mercatus Center at George Mason University. Lagging tax revenues caused in part by lagging commodity prices have put the budget front and center during this legislative session.

 

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