U.S. Senate to discuss $1.9 trillion American Rescue Plan, Nevada stands to win big

U.S. Senate to discuss $1.9 trillion American Rescue Plan, Nevada stands to win big

Nevada, the entertainment and gambling capital of the United States, reportedly stands to win big if the U.S. Senate approves the American Rescue Plan-- a $1.9 trillion measure designed to provide much needed relief to pandemic-hit industry.

The relief bill includes $350 billion in direct aid to state and local governments. Nevada’s state and local governments are currently projected to receive more than $4 billion. However, possible adjustments by the U.S. Senate may change the figure.

If the allocation of the funds is made simply by population, Nevada will reportedly stand to receive $884 million more in funding. Merely four states will likely receive a bigger increase than Nevada.

The spending package (HR1319) gives state and local government four ways to use the funds to be provided in COVID-19 pandemic relief. The government will be able to use the funds to respond to the pandemic, cover its costs, replace lost/diminished revenues or they will be able to allocate money to address the negative economic impacts of the economic emergency.

The measure, in its current form, would allow Nevada and its municipalities to utilize some of those funds to promote tourism. It simple words, it would help the state and its municipalities in encouraging gamblers to visit its casinos and other places of entertainment. More visitors would mean higher tax revenue and more jobs.

Of the estimated $4 billion, nearly $3 billion would go to the Nevada State, while five municipalities would share $285 million. The counties are projected to receive $597 million, while smaller cities would likely receive $151 million. Most of the metro and county funding would go to the Las Vegas area. Clark County, which contains the world-famous Las Vegas Strip, is slated to receive $440 million. Henderson and North Las Vegas would likely receive $37 million and $47 million, respectively.

David Riggleman, communications director for Las Vegas, said, “Once we have a more definitive view, the City Council will have the opportunity to make the final decisions on how those monies should be disseminated. Those final decisions are yet to be made.”

Adopting “wait and see” approach, Clark County Senior Public Information Officer Stacey Welling said that it would be too early to determine how county leaders would allocate the funding as the measure is yet to make its way through Congress.

Business: 
Technology: 
General: