Las Vegas, NV – On January 23, 2023, the Vegas Chamber issued a statement regarding Governor Joe Lombardo’s State of the State Address:
“Governor Joe Lombardo’s State of the State Address lays out a vision that is forward-thinking with many commonsense approaches and investments to improve the lives of Nevadans.
“The Chamber applauds the Governor for recognizing the struggles small businesses and employers continue to face from the impacts of COVID and the current economy. Lowering the Modified Business Tax by 15% to 1.17% is great news for employers. And raising the threshold for the Commerce Tax to $6 million will cause fewer small businesses to be impacted by this tax. Both measures are good news for Nevada businesses, economic growth, and job creation.
“The Vegas Chamber is pleased to see that the Governor recognizes we need to dedicate more funding to help improve K-12 education to prepare our students for the challenges of the workforce and higher education so they will prosper. While the $2 billion in new spending is the largest investment in K-12 in history, the Governor is calling for these funds to be spent where money is needed and in a way that will be accountable and transparent to students, parents, and the entire state. This will give taxpayers confidence these funds will be wisely spent on the things that will lead to student success.
“Higher education is essential for Nevada’s future, too. The Chamber is pleased the Governor is making needed investments on post-secondary education including $75 million for Millennium Scholarships, $20 million for research student stipends, and $9 million for the UNLV Medical School to train more medical students. These investments are important to keep talented students in our state so they can create a vibrant future. At the same time, the Governor recognizes the need to increase budget transparency at the Nevada System of Higher Education and study the funding formula for fairness and accountability.
“The Governor’s plans to stabilize and protect the state from tough times by placing one dollar in reserve for every new dollar spent in the General Fund is wise. Replenishing the Rainy Day Fund and setting aside money for additional needs in the case of extreme unforeseen circumstances are prudent. By reserving money now, our state will be able to better withstand economic challenges and lessen the harm on Nevadans.
“The Vegas Chamber looks forward to working with Governor Lombardo and his administration, along with Nevada legislators to pass these investments in Nevada’s future.”
