Nevada
Carson City lowers expectations for Nevada revenue projection report
CARSON CITY — Nevada lawmakers are anxiously awaiting a May 1 forecast of how much money the state will have to fund services and new programs for its next two-year budget cycle.
There is already a consensus that revenues will fall below predictions used to create the state budget. But just how far below is a question being raised in budget hearings, in hallway conversations and at press conferences in the days leading up to Thursday’s Economic Forum.
Assembly Minority Floor Leader Gregory Hafen, R-Pahrump, said expectations were “already bad” during a Monday meeting of the joint Assembly Ways and Means and Senate Finance committees.
“Heaven forbid the Economic Forum come back much worse than most of us are projecting it to be,” he said.
$12.4 billion question
The Economic Forum is a panel of experts who forecast the state’s general fund revenues, including the sales and use tax, gaming percentage fee, live entertainment tax, commerce tax, modified business tax and real property transfer tax. Its most recent forecast from December was used by Gov. Joe Lombardo’s staff to craft Lombardo’s proposed budget for the 2026-2027 biennium.
That forecast predicted the state could count on $12.4 billion in revenue during the next two-year budget cycle, about 3.4 percent more than it is expected to receive over the entire the 2024-2025 biennium.
The state’s economic outlook has changed since then, and expectations of lowered revenue are already playing out.
Alexander Marks, deputy executive director of field and communications for the Nevada State Education Association, said the education lobbying group can see the economy’s impact in the governor’s recommended per-pupil spending increase of only $2 in the 2026 fiscal year and $70 for the 2027 fiscal year.
“Why does it appear that way? I mean, I hate to just say vibes, but I mean, certainly the comments that are being made by some of them, the budget meetings,” Marks said. “The $2 per pupil budget increase – it’s like, if we had the money, (Gov. Joe Lombardo would) be offering more.”
Uncertainty driving the conversation
The source of many of the concerns is far outside of lawmakers’ control, including trade tensions that has led to a softening of international travel and increased uncertainty about the impact of tariffs on the domestic economy.
“We know our economy is deeply reliant on tourism,” said Sen. Rochelle Nguyen, D-Las Vegas, at a Wednesday press conference in Carson City. “When trade wars disrupt the global economy, it directly impacts disposable income of tourists, both domestic and international.”
Efforts to pare back the federal government’s $1.3 trillion budget deficit could have an outsized impact on the 28 percent of the Silver State’s budget that comes from the U.S. taxpayers. Most of that money supports the Department of Health and Human Services, which manages the state- and federally-funded Medicaid program, which provides coverage to some 822,000 Nevadans, according to a report from the nonpartisan Kenny Guinn Center for Policy Priorities.
Marks said his group is advocating for changes suggested by the Commission on School Funding, including changes to the state’s property tax structure by resetting depreciation to capture more property taxes, as described in Assembly Joint Resolution 1, but it’s a long-term fix; that reform would require the approval of the legislature, governor twice before being put before voters in 2028.
Bracing for bad news
A Wednesday meeting gave some insight into what to expect from the next Economic Forum report.
Fiscal analysts gave the Technical Advisory Committee on Future State Revenues a preview on non-major revenue sources. The discussion on smaller taxes, including the liquor tax, gaming penalties and the “transportation network tax” on rideshares and cabs, suggested a slowing economy would affect the state’s revenue sources.
“All of the forecasters did reduce their forecasts to some degree because of expectations of softening of tourism and the year-to-date actuals not coming in as predicted to this point,” Michael Nakamoto, a fiscal analyst in the Legislative Counsel Bureau, said during the meeting.
Forecasters projected a $16 million drop in non-major revenue sources each budget year compared with the previous economic forum report. They also reported a $102 million reduction in general fund revenue in the first nine months of the 2025 fiscal year compared with the same period in 2024, which Nakamoto said was skewed by revenue collected when Las Vegas hosted the Super Bowl.
“If they are visitors, or would-be visitors to Nevada, they might be rethinking it for any number of reasons,” he said when talking about the nearly 11 percent decline in liquor tax revenue projected for the 2025 fiscal year. “Or if they live here, they might be foregoing buying alcohol because they need to buy something else.
“And that’s kind of one of the uncertainties, and it’s the great unknowns that we’re sitting and looking at, and it’s honestly one of the things that keeps me up at night as a forecaster.”
Contact McKenna Ross at mross@reviewjournal.com. Follow @mckenna_ross_ on X.
The Las Vegas Raiders have orchestrated many groundbreaking moves this offseason, but none as important as the impact they made at a fundraising event.
Over the weekend, the Raiders hosted the Silver & Black Gala, raising $2.5 million for mental health in Nevada. Sunday marked the third time the organization had hosted the event, which has produced a tremendous turnout.
Several individuals spoke during the event, including Las Vegas Raiders owner Mark Davis and president Sandra Douglass Morgan, who each highlighted the importance of acknowledging mental health.
Davis’ Thoughts
- “We’re here to raise money for mental health, which is one of the most important things we can all deal with,” Davis said. “Every one of us is impacted by mental health and our families, friends, or anywhere else, we are all directly affected. That’s why it’s so critical to raise money for our community. We’re grateful for you all, and appreciate you being here.”
Morgan’s Thoughts
“Mental health remains one of the most urgent issues across Nevada,” Morgan said. “Through the Silver & Black Gala, the Raiders Foundation is helping expand access to trusted, community-based resources that meet people where they are. This year’s recipients reflect the depth and complexity of that work, supporting our community in schools, clubhouses, homes, shelters, and family systems statewide.”
The Raiders also honored former player Carl Nassib and NFL broadcaster Jay Glazer on Sunday night as the winners of the Commitment to Excellence award. Here is what each of them had to say.
Glazer’s Thoughts
- “First, this is incredible what the Raiders are doing,” Glazer said. “God blessed me with the ability to communicate, so I’m going to use that to try and help other people. When we’re willing to share our scars, we turn them into strength—into something that connects us as teammates with nothing to hide. That’s what builds a true team, a championship team. I’m proud to stand with you and be part of this team tonight.”
Nassib’s Thoughts
- “It is truly a privilege to be up here,” Nassib said. “We’re creating space for people to be vulnerable—and that work is truly lifesaving. It’s not about being perfect, it’s about showing up and reminding people they’re not alone.”
Overall Thoughts
This has been a tremendous event over the last few years, and the Raiders’ organization has done a great job of raising awareness for mental health. This will be an event that the team will continue to host in the future.
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Nevada
Nevada workers fear homelessness as housing, jobs vanish before July deadline | Fox News Video
The final casino resort in Primm, Nevada, will close this summer after years of declining tourism, ending gaming operations in the once-busy border town and putting hundreds of employees out of work.
Primm Valley Casino Resorts is shutting down its remaining hotel and casino operations in July as experts point to increased competition, changing travel habits and post-pandemic losses behind the decline.
RENO, Nev. (News 4 & Fox 11) — Nevada Governor Joe Lombardo (R) is in a strong position heading into the thick of his 2026 reelection bid — a huge war chest, almost universal name recognition and strong favorability numbers among the electorate.
Though Lombardo is likely focusing on the general election already, he faces 6 longshot candidates in the GOP primary seeking to upset him in June.
Nevada Governor GOP primary: 6 longshot candidates taking on incumbent Joe Lombardo
The challengers face a ‘Herculean’ task, said Mike Noble, CEO and founder of Noble Predictive Insights, an Arizona-based nonpartisan pollster focusing on the Southwest region.
“I see it as a Herculean task for anyone. If someone was coming in with like, I don’t know $10 million or something to spend, sure I can see that might be competitive, but I don’t see any of them coming anywhere near close to that. And so again, I just think I think it’s a non-factor at this point,” Noble said.
RELATED | Ballot Battleground: Nevada podcast: Early Noble poll shows dead heat in governor’s race
Despite the long odds, News 4-Fox 11 reached out to all candidates requesting an interview as part of our commitment to 2026 election coverage and our Know Your Candidates series. Three of the 7 running interviewed with us — Irina Hansen, Kameron Hawkins, Lombardo and Jose Zelaya did not respond to multiple emails requesting an interview.
We asked them similar questions about Gov. Lombardo’s leadership as governor, how they would pass a balanced budget and whether they support taxpayer subsidies for sports teams or major projects.
Click the candidate’s name to watch their full interview. Quotes below have been edited for space and clarity.
Donald J. Beaudry Jr. is an entrepreneur who founded BlkEdgeAi, a financial technology firm specializing in AI-driven trading systems and market strategy, according to his campaign website.
He told News 4-Fox 11 that Nevada has been drifting the last four years with ‘no captain, no vision.’ He believes his Wall Street-like trading market called NGEX (Nevada Global Exchange) would generate enough revenue to eliminate sales taxes, property taxes, business taxes and vehicle registration fees.
“I completely blueprinted it out and calculated that this model could generate enough revenue in this state that we could eliminate all the state taxes and fees that are currently in place and use that as the revenue source for the state and make everybody, every man, woman and child throughout Nevada, a shareholder in the dividends of that exchange … it would be a kind of Wall Street type of stock market, but far broader, more advanced, and exponentially more profitable.”
Matthew Rian Winterhawk is the founder of SmartSlaps foundation, a nonprofit that works to help schools and students with civic engagement and community responsibility.
If elected, he described going through a DOGE-like review of the state budget to determine which areas can be cut or kept depending on their ‘dollar to impact’ ratio.
“What I would like to do is go through every department, I’m talking top to bottom, from here from the primary to the beginning. We will cut every piece of administrative bloat across the system … I need more money for my teachers. Teachers never see it, students never see it, the impact never reaches the classroom. It’s 100% administrative bloat.”
The son of immigrants, Barak Zilberberg is now an entrepreneur and real estate investor based in Las Vegas. He ran for governor in 2022, earning 0.2% of the vote in the GOP primary. He told News 4-Fox 11 he’s also running for President in 2028.
He said he’s running for governor to improve the educational system, bring jobs to Nevada and open up federal land to build more affordable housing.
“We’ve got get high-speed railing systems in here where we can transit very easily, efficiently, and basically moving around between economies of both cities. Not only that, I’d like to bring Disneyland here and the Olympics, sponsor the Olympics here. I just want to make this a well-known place of entertainment, a hub.”
To help voters make informed decisions this election year, News 4-Fox 11 is publishing and broadcasting dozens of interviews with candidates who will appear on the June primary ballot.
In fairness to all candidates, they were asked a series of similar questions. We are posting the full interviews online so voters can watch their responses in their entirety.
Visit our Know Your Candidates 2026 page to view other race previews and meet other candidates.
Email reporter Ben Margiott at bjmargiott@sbgtv.com. Follow @BenMargiott on X and Ben Margiott KRNV on Facebook.
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