VIDEO: Ricketts Preserves the Good Life
WASHINGTON, D.C. – Yesterday, during his weekly press call with Nebraska media, U.S. Senator Pete Ricketts (R-NE) discussed the One Big Beautiful Bill and his work to deliver results that matter for Nebraska families.
Watch the video here.
“Nebraska is what America is supposed to be,” said Ricketts. “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 reflects those values and delivers results where they matter most.”
TRANSCRIPT:
Senator Ricketts: “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 reflects those values and delivers results where they matter most.
“Nebraska workers were under pressure after years of inflation, overregulation, and rising costs 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 into Americans’ pockets.
“The most essential relief helps workers making less than $50,000 a year.
“The One Big Beautiful Bill eliminates federal tax on tips 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 out from Nebraska to D.C. when a TSA officer stopped me and thanked me for no tax on overtime.
“In fact, he even asked if we could make that permanent.
“But the no tax 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 seen a hike of $2,400 in taxes.
“That’s $2,400 that Nebraskans can continue to spend on groceries, utilities, or saving 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 and lays the groundwork for decades of economic growth.
“It preserves the good life.
“The bill 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%.
“It’s combined with enhancement of the dependent care assistance program, which excludes up to $7,500 of dependent care assistance expenses from income each year.
“That is up from a previous limit of $5,000.
“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 and 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 are paying for higher education.
“American families now have the opportunity to choose the education that fits their children best.
“The bill creates a new tax credit of up to $1,700 for donations to scholarship-granting organizations that help K through 12 students access better educational 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.
“When I was Governor, we supported programs like the Nebraska Youth Registered Apprenticeship Program.
“We encouraged students to join the Registered Apprenticeship program and increased participation.
“We also started the Developing Youth Talent Initiative to connect young Nebraskans with learning opportunities in their schools about what careers they may want to choose in the future.
“These give young people the opportunity to combine academic and technical experience with work experience.
“This gave Nebraska youth the foundation to choose from several pathways—to enroll in college, begin full-time employment, or combine work with training.
“Now, a young Nebraskan in Scottsbluff interested in welding or mechanics can qualify for federal financial aid and go to work, for example, at Aulick Industries.
“The bill also provides exemptions for agriculture-related assets, like farmland and combines, from FAFSA calculations.
“This means that farm families across the state, from Dawson to Dawes counties, aren’t going to be 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.
“Now that is common sense education policy.
“The One Big Beautiful Bill defends Nebraska’s 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.”