$191 million in Nevada budget cuts ahead as tax revenue fails to meet expectations

Nevada’s revenue projected to drop by $191 million amid trade war and tariff uncertainties

A report prepared for Nevada's economic forum puts the blame for a drop in projected state revenue at the feet of President Donald Trump's tariff policy. The report, by Moody's Analytics, says the national economy will avoid a recession, but only if Trump changes course with most of the tariffs he's imposed since being sworn in on Jan. 20. VIDEO: Steve Sebelius breaks down Nevada's Economic Forum, revenue projected to drop $191 million Nevadas r…

‘The outlook has deteriorated:’ NV revenue forecast nudges down, economists see signs of recession • Nevada Current

"In the past, we’ve seen that when we get a 20-point reduction over three months” in the consumer confidence index ”a recession will follow within 6 months,” a Moody's economist told Nevada's Economic Forum. “We’re currently at 19.3%." (Photo: Jeniffer Solis/Nevada Current)Nevada’s Economic Forum adjusted the tax revenue forecast down $191 million for the upcoming biennium, representing a further dimming of an already dreary outlook of how the e…

Nevada Expected to Need $191M in Budget Cuts

(Carson City, NV) — The Nevada legislature is expected to be in need of 191-million dollars in budget cuts due to a projected revenue shortfall. That is according to an Economic Forum projection released on Thursday. State fiscal analysts blame it on decreasing tourism and spending, higher than expected inflation, and slowing growth in both wages and the real estate market. Governor Joe Lombardo has proposed a 12-point-four-billion-dollar budget…

$191 million in Nevada budget cuts ahead as tax revenue fails to meet expectations

LAS VEGAS (KLAS) — Nevada will have to find $191 million in cuts after projections show tax revenues will come up short as the state works on its two-year budget. And it only has a month to do it. The Economic Forum projection released on Thursday was expected, but it will bring extra pain to a budget process that is a tough job even when there's plenty of money to spend. The news could have been worse for Gov. Joe Lombardo's $12.4 billion budge…

Budget Crunch Hits Nevada: Tourism Slowdown Creates Shortfall

The Budget Crunch Nevada's facing a money problem. The state just found out it needs to cut $191 million from its upcoming two-year budget. That's money the government thought it would have, but now won't. The Economic Forum, a group that predicts how much money Nevada will collect, delivered this bad news on Thursday. State...