Reno, NV – As the federal government’s new fiscal year begins, Assembly Republican Caucus Leader Dr. Robin Titus reflects on Nevada’s fiscal health.
“Since the last recession, Nevada has seen an increase in both population and economic growth. People are relocating and businesses are moving to Nevada to take advantage of our business-friendly environment. While this is great news for our state, there are warning signs that point to problems ahead.
Recently, a report from The State Data Lab gave Nevada a ‘C’ grade for its fiscal health. According to the report, our debt-to-revenue ratio has left taxpayers with a financial burden of $3.1 billion or $3,100 per taxpayer. The report goes on to say that about 32.5% (pension and retiree health care benefits) of our total debt remains unfunded.
Our present ‘C’ grade should be a wakeup call to Nevada that we need to stop spending more than comes in, so our newly rehabilitated economy doesn’t collapse under the weight of an increasing deficit. A perfect example of this is the Democrat’s collective bargaining bill that passed last session. Although the bill was amended, the cost to the state could be anywhere between $1.7 billion and $1.75 billion in new spending.
We need fiscally responsible leadership, from both Republicans and Democrats, if we are to keep our state on a course of continued growth and economic vitality.”