Download flyer in English & in Spanish
2018 Consumer Fraud Prevention Fair in Reno March 7
Financial Security Taskforce
Financial Security Taskforce Explained
Senate Bill (SB) 118 was enacted during the 2017 Nevada Legislative session. This bill created the Nevada Taskforce on Financial Security, consisting of nine voting members, to conduct a comprehensive examination during the 2017-2018 legislative interim of the financial security of individuals and families in Nevada, including, without limitation, their opportunities to build assets and reduce debt. The Taskforce is required to submit a report of its findings and recommendations to the Legislative Counsel Bureau on or before September 1, 2018.
If you are interested in the financial security of Nevadans you will be interested in the Task Force on Nevada Financial Security interim committee hearings and listening session (webinar) below.
Mark Your Calendar
The 5th and final meeting is scheduled for July 25, 2018, at 8:30 am. You are encourage to participate and bring forth your comments about the financial security needs of Nevadans and potential policy solutions. Now is the time to make yourself heard. For more details, click here.
Hearing 4 – May 21, 2018
The 4th hearing of this taskforce took place on May 21, 2018. Click here to view agenda, minutes and meeting material.
To Watch the Hearing (4) Video, Click Here (Then, Click on the “View Archived Meeting” Link Under “Monday, May 21, 2018”)
Hearing 3 – March 21, 2018
The 3rd hearing of this taskforce took place on March 21, 2018. Click here to view agenda, minutes and meeting material.
To Watch the Hearing (3) Video, Click Here (Then, Click on the “View Archived Meeting” Link Under “Wednesday, March 21, 2018”)
Hearing 2 – January 22, 2018
The 2nd hearing of this taskforce took place on Monday, January 22, 2018.
Solana Rice from Prosperity Now was the first presenter providing the Asset Score Card data for Nevada. Unfortunately, the numbers are not improving and Nevadans lack liquid savings for even small emergencies and lead the country in underbanked, meaning that Nevadans use alternative high cost financial services at a higher rate than any state in the nation.
There were presentations by experts on the financial security issues, barriers and needs of special population including veterans, disability community, Prison Reentry and health & human services.
Click the “Play” Button Below to Watch the January 22 Hearing (2)…
Listening Session (Webinar) on January 9, 2018
The Education Policy Advocacy (EPA) Network of Opportunity Alliance hosted a listening session (webinar) in partnership with Prosperity Now on January 9, 2018, to gather feedback state-wide about the most pressing financial security topics that are facing the communities we serve. Ideas and examples of what is working are being relayed to the taskforce as they consider their goals and priorities.
Click Here to Download Webinar Slides
Click the “Play” Button Below to Watch the Webinar Replay…
Award for Most Advocacy Actions Taken in 2017
Thank you to Prosperity Now for this 2017 award…
The award for most advocacy actions taken in 2017 goes to… Opportunity Alliance Nevada! Learn more about the work they do to help low-income Nevadans thrive by following @NVOppAll & visiting https://t.co/DFEs4jKBfO. Thanks for all you do!
— Prosperity Now (@prosperitynow) December 21, 2017
Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act, which was introduced on November 2 in the House of Representatives, includes some provisions that raise taxes and some that cut taxes, so the net effect for any particular family’s federal tax bill depends on their situation. Some of the provisions that benefit the middle class — like lower tax rates, an increased standard deduction, and a $300 tax credit for each adult in a household — are designed to expire or become less generous over time.
Some of the provisions that benefit the wealthy, such as the reduction and eventual repeal of the estate tax, become more generous over time. The result is that by 2027, the benefits of the House bill become increasingly generous for the richest one percent compared to other income groups. See below for how the bill would affect Nevada residents’ federal taxes and read our full report on the bill here.
The graphs below illustrate how the bill would affect taxpayers in Nevada in four ways:
- The share of tax cuts in Nevada going to each income group in 2018 and 2027.
- The average tax cut for each income group in those years, in dollar amounts.
- The average tax cut for each income group in those years as a share of income.
- The fraction of taxpayers in Nevada who would pay higher taxes under the bill.
