Las Vegas NowNevada lawmakers outline tax plan to help balance state budget
Associated Press - May 16, 2009 7:25 PM ET
CARSON CITY, Nev. (AP) - Nevada lawmakers, working Saturday on a revenue plan that already includes higher payroll taxes to help fill a $1.1 billion budget hole, reviewed other options such as increased sales taxes and business and vehicle fees.
Assembly Taxation Chairwoman Kathy McClain, D-Las Vegas, described the proposals as "another Band-Aid approach to get us through another crisis." The tax package could raise nearly $800 million over the next two fiscal years.
About $349 million of the revenue needed to help balance a nearly $7 billion budget would come from a doubling of the payroll tax on large businesses.
The other proposals discussed Saturday could raise about $360 million more, including about $193 through a 0.25% increase in sales taxes. Another $94 million would come from higher vehicle fees, and about $72 million would come from a doubling of annual $100 license fees paid by businesses.
No decisions have been made on any of the plans. They face a certain veto from GOP Gov. Jim Gibbons, who has said repeatedly that he won't sign off on tax increases. However, legislators are gearing up for an override vote in the last few days of the 2009 session, scheduled to end June 1.
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