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Gov. Jim Gibbons said today additional cuts might be necessary to this current year’s budget as the most recent figures showed gaming tax figures plummeting.
The news comes less than two weeks after the Legislature met in a special session to cut an additional $274 million from the state’s current shortfall.
“This is an incredibly difficult time for the state of Nevada, and it appears that we may need to prepare for an additional shortfall to our General Fund for the fiscal year that just began,” Gibbons said in the statement. “We will continue to watch our state revenues very closely in the coming months to determine whether any additional reduction to state spending will be necessary to maintain a balanced budget.”
Nevada collected nearly $19 million less in gaming taxes this June than it did last June, and are worse than projected by the Economic Forum three weeks ago. The Economic Forum is made up of five members of the business community who meet to forecast the amount of taxes Nevada will get.
The state has already cut $1.2 billion out of the current budget cycles.
So amusing that this idiot has to have 1/3 of the page taken up with JUST HIS NAME. Get over yourself Jimbo - resign and let us carry on.
As for your press release, you as Governor should have had revenue projections that you could rely on. No big deal eh, just spend more money to have another special session?
What you signed into law just 10 days ago was not sufficient. Why did you sign it?
Why don't you just move out of the mansion again and give this state a chance to survive. With you living there we are certainly not given a fair chance. RESIGN.
If the Senate Republicans allowed the comped meals to be continued to be taxed like they have been for decades, that $19 million figure wouldn't mean anything. When will Republicans realize that it's only fair to close such a loophole?
What????
We should immediately stabilize the tax structure to help state workers because only half of the workers got 8% to 10% raises when one included the step raises.
This tax increase....sorry I meant to say "stabilize the tax structure"...will help Buckley service the needs of her unions.
Ummm, jfnance32? You think that a 4% COLA increase breaks the budget and that state employees, who serve the public by the way, are to blame for our State finances? Wow, you really don't understand the depth of the problem. You look at a pebble at your feet when the boulder is falling on your head.
I was with a friend earlier this week who had earned enough points at a local casino that she treated my daughter and me to lunch. Funny thing is that she was required to pay the tax for the meal. And her sister, who lives in New Jersey, earned enough points that she was comped a room for two nights, but she had to pay the room taxes. So, if the casinos are collecting the taxes for things that are comped, why wouldn't those taxes be submitted to the state? Are casinos going to get refunds from the state for taxes that customers already paid?
The COLA if delayed by one year would have given the state another $130 million to work with.
But Noooooooo......God forbid Buckley would offend the union masters she serves.
On average the 4% COLA gives the state worker on average $31 a week after taxes.
But Nooooooo... God forbid we delay that by one year and not cut other budgets by over 10%.
Or we could use MGM/Mirage CEO Terry Lanni's idea and just bump up the business payroll tax by 0.05 to cover this new shortfall. 1/20th of 1 percent will not kill any business, will not force any layoffs and would be virtually imperceptible by any business.
But no, I'd rather that Jim Gibbons continue his foolish schoolyard pinky swear with Chuck Muth while we continue to cut necessary services. That's MUCH more reasonable.
The real cause of nevada's out of control spending is the hidden cost of the bureaucracy- the hordes of state workers doing things we dont need !!! Government bloat just increases by itself as government decides to do more and more. Closing libraries, laying off police, and such knee jerk reactions are just designed to show how government is being responsible, while all the time it hides where the read costs are. Among other things, clark county administrative workers get way above reasonable wages, while teachers get less. Its a good thing that there is a budget shortfall. Maybe it will clear out some of the deadwood out there. I like the flat percentage cuts across the board that Gibbons is doing actually.
Jim, you remind me of my ball obsessed Labrador. For weeks you've been on a rant about State workers getting 8-10% raises. Many bloggers (me included) have tried to show you the errors in your logic and you just don't listen, but your math doesn't even make sense. If an individual were to get a 4.5% step increase and a 4% COLA, that's 8.5%. Period!!! Nobody is getting above 8.5% and the majority of State employees are not even getting that much.