(Carson City, NV) — An initiative to tax Nevada businesses that gross $1 million a year received its first hearing Tuesday in Carson City.
The measure, backed by the teachers’ union and many other labor groups gathered over 150, 000 signatures to qualify the measure, which would impose a two-percent tax, but allow businesses to use different calculations to determine the amounts charged.
The increase could generate $800 million for k-12 in Nevada. Currently, public education is funded well below the national average and Nevada has the highest dropout rate in the country.
Richard Simms is an economist with the National Education Association and explains why funding education is so crucial to the future success of Nevada.
“Leaders of major corporations have told us the three things they look for when picking a place to locate or expand. They are workforce, education and education.”
And Danny Thompson of the Nevada AFL-CIO believes the time is now for change in relation to funding education.
“We have never thrown money at education. EVER! We don’t fund it at the national average and we are paying the price right now.”
“82-percent of our kids said they have no intention of living here as an adult. What does that say about Nevada? What does that say about the care we are giving our kids here,” said Bob Fulkerson of the Progressive Leadership Alliance of Nevada.
Lawmakers will need to act on the measure by March 15th or it will automatically go the voters next year.