The Public Employees’ Retirement System of Nevada has a huge math problem: It’s promised to pay around $40 billion more in benefits than it currently has, even after including reasonable returns from its investment.
In the realm of education — arguably the most significant area of an individual’s life — most Nevadans have been deprived of choice. Instead, they have been forced into a state-run monopoly.
Now that Nevada voters have granted them unified control of the legislature and governor’s mansion for the first time in 85 years, Republicans will have a historic opportunity in 2015 to enact policies that will mean better opportunities for Nevadans for generations to come.
The need for school choice in Nevada is clear. Empirical research into existing programs of school choice in other states has consistently found that choice leads to improved outcomes for both students who participate in those programs and for students who elect to remain in district-run schools.
Nevada’s taxation department issued a report Monday listing $2.2-billion in new annual revenues that allegedly could be collected if certain tax exemptions, credits, abatements and preferential tax rates were removed from state law.
Not beholden to public-employee unions, Republicans have a chance to reform public pensions.
With Republicans set to assume control of both chambers of the Nevada Legislature — along with all the state’s constitutional offices — parents across Nevada can only wait with bated breath to see if Republicans will move to implement the fundamental reforms Nevada’s K-12 education system needs.
Any discussion about reforming the structure of Nevada’s tax code should be divorced from the debate over how much in total revenue state officials would like to receive. In other words, for tax reform to have legs politically, it must be done on a revenue-neutral basis.