LINCOLN, Neb. ( Nebraska Examiner ) - A report from Nebraska’s Department of Revenue projects that the federal budget reconciliation bill will cost state government more than $216 million over the next two years.

The department released the analysis as part of a state law that requires it to report to the Nebraska Legislature within 60 days of a change to the national Internal Revenue Code. Congress’ ‘One Big Beautiful Bill’ that passed on July 4 was the subject of Tuesday’s report.

DOR’s analysis spanned the next four fiscal years ending in 2029. It surmised that the expected losses in corporate and individual income tax revenue will cost Nebraska more than $406 million over those four years. Within the two years that make up the existing biennial budget, the losses would equal roughl

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