This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nev. Senate Democrats Propose Incentives For Jobs

By SANDRA CHEREB

CARSON CITY, Nev. (AP) â¿¿ Democrats in the Nevada Legislature, who have pledged a top-to-bottom review and possible overhaul of Nevada's tax structure, proposed a variety of tax incentives Tuesday that they say will create jobs and aid an economy still trying to gain momentum following the Great Recession.

Democrats insist that the two discussions â¿¿ tax breaks on the one hand and an overhaul on the other â¿¿ are not exclusive of each other and can be held in concert.

"It's a big picture," Sen. Debbie Smith, D-Sparks, said at a news conference with other Senate Democratic leaders.

"We've seen from the recent downturn in our economy that we cannot simply expect one or two industries to sustain the majority of our jobs base," said Senate Majority Leader Mo Denis, D-Las Vegas. "The bills we've introduced provide immediate remedies to our unemployment rate while implementing a long term vision for a diverse economy."

Geoffrey Lawrence, deputy director Nevada Policy Research Institute, a conservative think tank, called the Democrat's plan a "retread of stale and failed government programs."

"None of the items introduced by Senate Democrats addresses the core factor that hinders economic growth â¿¿ the obstacles that Nevada government places in the way of private entrepreneurship," Lawrence said in a statement.

Proposals outlined include a bill co-sponsored by freshman Sen. Aaron Ford, D-Las Vegas, and Assemblyman Paul Aizley, D-Las Vegas, to provide tax breaks to the film industry to lure motion picture and television productions. It's an idea Steve Hill, executive director of the Governor's Office of Economic Development, earlier said was not a priority because most states these day offer incentives to the film industry, a factor that often leads to bidding wars and little return on investment.

Lawrence agreed and cited the opinion of the Tax Foundation, a nonpartisan research group, that said such credits fail to live up to their promises.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs