Boulder City Magazine® November 2008 Issue
by Senator Harry Reid
Senate Majority Leader
Facing The Economy In Nevada
Nevadans face unprecedented challenges today and I am taking action to bring you help. This week I introduced my proposals for economic recovery for our middle class, with an eye specifically cast toward Nevada’s unique needs.
Boulder City Magazine®
|In recent weeks, Congress responded to the financial crisis by developing a bipartisan plan to help restore stability to the financial markets. It’s long past time to deliver that same type of help directly to working families in Nevada and throughout the country, and I’ve worked with Senator Obama on a number of proposals to do that. I’m going to bring these proposals to the Senate when we reconvene.
You know too well the trouble we face with foreclosures. The number of homes repossessed in Clark County by lenders has tripled from 2007 to 2008. That’s why I believe we must change the law to allow people filing for bankruptcy to seek mortgage relief on their home.
We need to create good-paying jobs by rebuilding and improving our roads and bridges, investing in school modernization and renewable energy, and create tax incentives that encourage businesses to hire more Americans here at home, rather than sending jobs overseas. We also must extend unemployment benefits to those who have lost their jobs due to this weak economy.
Those are just some of the things we need to do to strengthen Nevada’s middle-class. But I also want to make you aware of some of the steps that we have already taken.
We passed the Emergency Economic Stabilization Act to stabilize our economy and protect Main Street. This bill will cut taxes for middle-class families; help create good-paying Nevada jobs by providing tax incentives for the use and production of renewable energy; provide millions of dollars to strengthen Nevada’s rural communities by fully funding the Payment in Lieu of Taxes (PILT) program. This bill includes provisions to help unfreeze the credit market.
In July we passed a piece of housing legislation providing a $7,500 tax credit for first-time homebuyers, and including more than $70 million in grant funding through the Neighborhood Stabilization Act to rehabilitate abandoned and blighted foreclosed houses that will protect home values.
Contact Harry Reid at http://reid.senate.gov/
P.O. Box 61901
Boulder City, Nevada 89006
Phone (702) 294-1392 Fax (702) 294-1392
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