LINCOLN, Neb. —

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The Nebraska Department of Revenue estimates the "One Big Beautiful Bill" could cost the state millions.

The "One Big Beautiful Bill" was signed into law on July 4, and the department's report details "the changes to the IRC and the impact of the changes on state income tax revenues and various classes and types of taxpayers."

In the report, the department estimated the legislation could cost the state more than $400 million over the next four years.

The department expects losses in corporate and individual tax revenue.

See the full report here .

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