Senator Ricketts’ Weekly Column: Preserving the Good Life: Fighting for Nebraska and American Workers
Nebraska is what America is supposed to be. We believe in hard work. We provide for our families and take care of our communities. We defend our freedom. The One Big Beautiful Bill (OBBB) reflects those values and delivers results where they matter most.
Nebraska workers were under pressure after years of inflation and over regulation as a result of the Biden administration. This bill fights back with historic tax relief and educational opportunities. It helps Nebraskans keep more of what they earn and protects Nebraska values.
President Trump and Congressional Republicans are determined to put money back in Americans’ pockets. The most essential relief helps workers making less than $50,000 a year. The One Big Beautiful Bill eliminates the federal tax on tips on up to $25,000 per year. The no tax on overtime provision provides a deduction of up to $12,500.
Just last week, I was flying from Nebraska when a TSA officer stopped me to thank me for no tax on overtime pay. He even asked if we could make it permanent. But the tax savings on overtime isn’t just for the TSA. It’s for nurses, factory workers, police officers, and servers. It’s for all of the jobs that keep Nebraska and this country safe and running. This tax cut is for all jobs that sometimes require workers to give a little more and work a little harder. We are rewarding their sacrifice.
Without this bill, the average Nebraska family would have faced a $2,443 tax hike. That’s $2,443 that Nebraskans can continue to spend on groceries and utilities or to save toward a family vacation. The Biden administration punished hard-working Americans with inflation and wasted taxpayer dollars. The One Big Beautiful Bill helps Americans save taxes. The bill lays the groundwork for decades of economic growth. It preserves the good life.
The OBBB is a win for Nebraska families. The Child Tax Credit was increased to $2,200. The child and dependent care tax credit increases the maximum credit rate from 35% to 50% of care costs. The dependent care assistance program allows deduction of dependent care from income. We increased the deduction from $5,000 up to $7,500.
Finding affordable and reliable childcare can be a challenge all across our state for working parents. With this bill, employers can now offer families more support without raising their workers’ costs. The employer-provided childcare credit was expanded from $150,000 to $500,000. A new $600,000 childcare credit was created for small businesses. This will encourage more businesses to invest in childcare for their workers.
The One Big Beautiful Bill gives families educational freedom and fixes how students pay for higher education. American families now have the opportunity to choose the education that fits their children best. The OBBB creates a new tax credit of up to $1,700 for donations to scholarship-granting organizations. These organizations help K-12 students access better opportunities.
One of my priorities in this bill is the extension of Pell Grant eligibility to short-term, high-quality job training programs. This is a proven Nebraska solution I led when I was Governor. My administration started the Developing Youth Talent Initiative (DYTI). This program gave middle schoolers hands-on experience in fields such as the trades, healthcare, and technology. We also supported programs like the Nebraska Youth Registered Apprenticeship Program. We increased participation in registered apprenticeship programs. We gave Nebraska youth the foundation to choose from several pathways. They could choose from apprenticeships, certification programs, or enroll in college. Now, a young Nebraskan can qualify for financial aid in welding or mechanics. Someone in Scottsbluff for example could use this to work at Aulick Industries.
The bill also provides exemptions for agriculture-related assets from FAFSA calculations. This would include farmland and equipment such as combines. This means that farm families across the state, from Dawson to Dawes, aren’t penalized when seeking financial aid for higher education.
The bill simplifies repayment plans and caps runaway borrowing. It holds colleges accountable for leaving students with burdensome debt. Federal loans can no longer fund programs where graduates are earning less than someone with a high school diploma. That is common sense education policy.
The One Big Beautiful Bill defends Nebraska values. It supports families. It encourages hard work and smart education. These are wins we promised and wins we delivered. This is how we fight for Nebraska. This is how we preserve the good life.
My team and I are here to serve you. Contact us anytime by phone at 202-224-4224. You can also view my website at www.ricketts.senate.gov/contact.