SUBMITTED NEWS RELEASE
PLAN and its allies applaud Chief Deputy Whip and Assembly Taxation Committee member Peggy Pierce for taking a bold step toward broadening and stabilizing Nevada’s failing revenue structure.
“Assemblywoman Pierce has offered a sensible solution instead of tying the fortunes of Nevada’s families to gambling winnings,” said PLAN lobbyist Jan Gilbert. “With the state’s revenue shortfall of approximately $3 billion, Nevada’s middle- and lower-income families, children, and seniors will find themselves in the service-cut tsunami without a life preserver,” she said.
Additionally, cuts to state health and human service spending in many cases would mean a loss of federal matching funds, with an expected loss of three to five times for every dollar cut, with negative reverberations throughout Nevada’s economy.
“Assemblywoman Pierce’s proposal of a broad-based business profits tax on Nevada’s biggest corporations will help stabilize the state’s unprecedented revenue crisis,” Gilbert said.
“Any responsible approach to addressing the current budget shortfall requires hard and balanced look at both how we spend money and how we bring it in. Taxes need to be part of the equation,” said Gilbert.
