Forecasters predict an extra $96M in revenue for Nevada through 2019
Lawmakers got some good news on Monday when economic projections for the state anticipated $100 million more in revenue for the state than previously expected.
The Economic Forum, a nonpartisan group who analyzes and estimates how much money the state has to spend, projected $95.7 million more in state revenue over the next biennium than their initial forecast in December. Chief Economist Bill Anderson and Daniel White of Moody's Analytics say wages are increasing, bringing commodity prices and tax revenue with them.
Under the Nevada Constitution, lawmakers have to pass a balanced budget based on the economic forecasts.
“While these newly projected revenues will not be enough to fully meet our needs in public education, mental health, job training, and other vital services, we are committed to putting our tax dollars to work for the hardworking Nevadans who still feel left behind,” said Senate Majority Leader Aaron Ford, D-Las Vegas.