As Nevada tries to turn the corner on the economic fallout caused by the COVID-19 pandemic, it’s critical that our elected officials work to promote growth and recovery. Recent data from the Department of Employment, Training, and Rehabilitation found that the recovery is slowing down, making it more important than ever that we focus on the right policies.
But recently, lawmakers in Washington – led by Rep. Alexandria Ocasio Cortez (D-NY) and Sen. Bernie Sanders (I-VT) – are pushing a new Small Business Investment Tax that will hurt the recovery as well as the small business owners, small real estate investors, and retirees that are still feeling the economic pain of the pandemic.
The investments targeted by this tax are the very investments that allow small businesses to survive during periods of uncertainty and grow when times are better. These investments support real estate construction, including affordable housing. Police officers, teachers, and firefighters rely on these investments to fund their pensions so they can enjoy financial security in retirement.
We have a lot of work to do in the months and years ahead. Nevada lawmakers like Rep. Steven Horsford and Rep. Susie Lee have stood up for Nevada businesses and workers by supporting emergency relief funding during the pandemic. I urge them to continue standing up for struggling Nevadans by opposing the Small Business Investment Tax (H.R. 1068 & S.1598).