According to the Congressional Budget Office, Senator Reid’s government healthcare plan will raise taxes on individuals, families and businesses by a staggering $493 trillion if implemented. These taxes could be a death blow to Nevada’s already-struggling economy. The Heritage Foundation projects that Senator Reid’s tax increases will add nearly 5.2 million low-income workers nationwide to the unemployment rolls while putting another 10 million more workers at risk of lower wages or reduced benefits.
Moreover, it seems that Senator Reid tossed aside his much-publicized deal to reduce the burden Nevada will have to take on for the increase in Medicaid participants. Earlier this year he had boasted about his deal to provide Nevada with a five year, 100% coverage of all new Medicaid costs, but now that deal has been replaced by a three year, 100% coverage deal for all states and thereby advances the deadline by two years for when Nevada will be forced to take on a massive statewide budget increase to cover the costs.
The bottom line is, either with or without the Medicaid deal, the bill is terrible news for Nevada’s economy. It must be defeated.