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Nevada AFL CIO: “No” To Margins Tax

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(Photo by Chip Somodevilla/Getty Images)

(Photo by Chip Somodevilla/Getty Images)

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LAS VEGAS (AP) — The Nevada State AFL-CIO has passed a resolution opposing a business tax that will appear on the Nov. 4 ballot.

Backed by the teachers union and once endorsed by AFL-CIO leaders, the measure called the Education Initiative seeks to impose a 2 percent margins tax on businesses that gross more than $1 million. Supporters say it would raise about $700 million annually for public education.

But opposition has been mounting, and the labor group is the latest to publicly oppose the proposal.

In its resolution Friday, the AFL-CIO says the tax would be particularly crushing to Nevada’s building trades, which are still trying to recover in the aftermath of the Great Recession.

Gov. Brian Sandoval, business groups and some Democratic lawmakers have also said the initiative would cause economic harm.

 

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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