• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Business & Finance Economic Policies

How Trump policies could tank this swing state’s revenue — and create a state budget crisis todayheadline

February 7, 2025
in Economic Policies
Reading Time: 4 mins read
A A
0
How Trump policies could tank this swing state's revenue — and create a state budget crisis
5
SHARES
10
VIEWS
Share on FacebookShare on Twitter

The state budgeting process began with a $335 million oopsie, and while it may have been resolved, a potentially much larger fiscal crisis looms: the Trump administration.

State lawmakers in the early days of the 2025 Legislative Session are warning that actions being taken by President Donald Trump through a deluge of executive orders, as well as legislation being considered by the Republican-controlled Congress, may have a disastrous effect on Nevada.

But the more immediate issue of a $335 million structural deficit in Gov. Joe Lombardo’s recommended budget has been addressed, according to the governor’s staff. Lombardo Chief of Staff Ryan Cherry on Wednesday provided an overview of four dozen budget amendments to legislators on the Senate Finance and Assembly Ways and Means.

Democrats took issue with some of the mechanisms the governor’s office used to balance the budget–specifically, turning some funding that had been proposed as ongoing expenses and into one-time funding. Cherry defended the handling, pointing out that the Democrats have embraced one-shot funding as recently as the last regular legislative session.

“We have 117 days to have this discussion,” said Cherry, referring to the remainder of the legislative session.

The Trump effect

When setting the state’s revenue projections in December, Nevada’s Economic Forum acknowledged that some of Trump’s more grandiose campaign promises had the potential to significantly change the economic outlook.

Those concerns have not assuaged since his inauguration.

“Let’s take a step back,” said state Sen. Dina Neal, who chairs the Senate Revenue and Economic Development Committee. “We’re built on individuals coming to Nevada (and) spending their money. (If) they don’t spend, we don’t get the gaming money, we don’t get the sales tax money.”

Neal theorized that people may buckle down on spending “because they’re not understanding what is going to happen in this environment” and referenced Trump’s ongoing attempts to freeze spending on all federal loans and grants, mass firings and attempts to downsize federal employees, threats of broad tariffs against numerous countries, and promises of mass deportation.

“What we are seeing is fear,” Neal said, “and ultimately fear makes you say, ‘I need to keep the money that I have in the bank because I don’t know if i’m on the chopping block because my money is coming from a federal agent that no longer exists because they went through 10 to 15 agencies and arbitrarily chopped people’s salary.’”

Economic uncertainty will be acutely felt by Nevada, Neal argued.

“We are a boom and bust state,” she continued. “People who come here help us pay for our services. That’s kind of the model. Not even kind of. It’s 50% of it.”

Senate Minority Leader Robin Titus had a different take on the cause of state budget uncertainties.

“I think what has happened to our state is an unrealistic and unsustainable influx of taxpayers’ money over the last four years,” she said, referring to the billions in federal funds Nevada has received through legislation like the American Rescue Plan Act. “We warned folks that we were spending this money way too fast on unsustainable programs, that we were going to fall off a fiscal cliff, and now everybody is complaining that we are there.”

When Lombardo was inaugurated as governor two years ago he inherited a flush budget, much of which was the result of ARPA’s passage in 2021.

Titus also took issue with a suggestion that the governor consider establishing new ongoing revenue streams to fund the programs he is currently recommended be funded through one-time appropriations.

“We’re going to watch very closely,” she said. “We’re going to balance this budget. The money is there. All this conversation about ‘I want (you to guarantee) that you’ll find new funding.’ I think we find ways to spend less.”

The Nevada State Legislature meets for 120 days every other year. The 2025 Legislative Session began Monday and must end on June 2. Budget bills are typically among the last bills passed.

The Economic Forum is required by law to meet again on or before May 1. At that time the forum can revise its revenue projections, which would then have to be reflected in the budget passed by the Legislature and signed by the governor.

Potential Medicaid cuts

Lawmakers also noted the uncertainty being created by the upheaval in Washington could compromise not only the Nevada economy, but the flow of federal funds to Nevada.

State Sen. Rochelle Nguyen asked Cherry whether the governor’s office is working on any worst-case scenario contingency plans in the event of federal cuts to Medicaid. U.S. House Republicans are considering drastic cuts to Medicaid.

Approximately 800,000 Nevadans — 1 in 4 — are on Medicaid and the Children’s Health Insurance Program (CHIP).

More than 359,000 Nevadans are eligible through the Affordable Care Act’s Medicaid expansion, which Republican Gov. Brian Sandoval and the Democratic-controlled Legislature opted the state into in 2012.

Cherry said administrators have been asked to look into the possibility of cuts “but right now those (cuts) are speculative.”

He continued, “We have to build a budget that is within the confines of federal and state law. We are looking at the revenues that would come in under the programs as they are, but we are looking at those.”

Cherry acknowledged that his office and the Department of Health and Human Services received a letter earlier this week from Senate Democrats caucus leaders with questions about how several proposed changes might impact Nevada. The letter requested written responses be submitted by Feb. 18 and that someone from DHHS testify about the information to the Senate Health and Human Services committee and Senate Finance.

Nguyen, the vice chair of Senate Finance, said it’s important for the state to have a plan so “we are not scrambling to cut significant things if that was to be the case.”

Nevada Current is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. Nevada Current maintains editorial independence. Contact Editor Hugh Jackson for questions: info@nevadacurrent.com.

Tags: BudgetCreatecrisispoliciesrevenuestateStatesswingtanktodayheadlineTrump
Previous Post

Trump Executive Orders Create Confusion for Science and Health Agencies todayheadline

Next Post

How to Align Your Team Through Every Growth Phase and Reach True Success todayheadline

Related Posts

ET logo

How did Denmark beat Canada? Frederik Dichow’s 39 saves tell the story todayheadline

May 22, 2025
4
ET logo

OpenAI hiring: Techies quickly brush up on AI, here’s the whopping amount OpenAI, Google and xAI are shelling out and it’s in millions todayheadline

May 22, 2025
10
Next Post

How to Align Your Team Through Every Growth Phase and Reach True Success todayheadline

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
ESPN 100 senior Jerry Easter commits to USC Trojans

NC State lands ex-Texas Tech standout forward Darrion Williams todayheadline

May 22, 2025

Kanzhun’s Profit Surges in Q1 on Cost Cuts todayheadline

May 22, 2025

For the First Time in Dubai Two Restaurants are Awarded Three MICHELIN Stars todayheadline

May 22, 2025
ET logo

How did Denmark beat Canada? Frederik Dichow’s 39 saves tell the story todayheadline

May 22, 2025

Recent News

ESPN 100 senior Jerry Easter commits to USC Trojans

NC State lands ex-Texas Tech standout forward Darrion Williams todayheadline

May 22, 2025
5

Kanzhun’s Profit Surges in Q1 on Cost Cuts todayheadline

May 22, 2025
4

For the First Time in Dubai Two Restaurants are Awarded Three MICHELIN Stars todayheadline

May 22, 2025
2
ET logo

How did Denmark beat Canada? Frederik Dichow’s 39 saves tell the story todayheadline

May 22, 2025
4

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

ESPN 100 senior Jerry Easter commits to USC Trojans

NC State lands ex-Texas Tech standout forward Darrion Williams todayheadline

May 22, 2025

Kanzhun’s Profit Surges in Q1 on Cost Cuts todayheadline

May 22, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co