Congressman Jim Gibbons

 

 

Update on
Nevada's Economy

 

 
     
     
 
 

 

I AM PLEASED to announce that today, more Americans are working than ever before. Since the Jobs and Growth Act was signed by President Bush in 2003, close to 5 million jobs have been created, over 2 million of which were added last year alone. Economic growth is evident across the nation, especially in Nevada. In fact, Nevada's unemployment rate fell to a historic 3.6 percent last January, the lowest it has been in three decades.

With Nevada's population growing at an exceptionally high rate, some fear not unemployment but actually a shortage in the job market. However, over the past year Nevada welcomed nearly 77,000 new jobs, and our job creation rate is well above the national average. More and more people are moving to the Silver State, and they are bringing their companies with them. As a result, we welcome a larger workforce and a larger job market.

While more Nevadans are working, it is important to note that more of these hardworking taxpayers are benefiting from the tax cuts that Congress must now make permanent. Lower taxes provide American families with more disposable income; a driving force behind our nation's strong economy. Retail sales rose nationally by 2.3 percent last January and are up 8.8 percent over the past 12 months. Consumer spending spurs productivity and growth, and for growing states like Nevada, these are two critical factors of our economy's viability.

While Nevada's economy continues to grow, it is important that we look to the future to ensure the economic vitality we enjoy today, continues for years to come. In an effort to proactively address the future needs of Nevada's economy, I continue to work with my fellow members of Congress to make tax relief permanent, and follow a fiscally responsible agenda. This tax day, as a result of our responsible tax policies, 925,000 taxpayers in Nevada will have lower income tax bills. In the past five years, this tax relief has allowed the American people to keep $880 billion of their hard earned dollars.

Nevadans deserve to keep more of their hard-earned money to spend on their children's education, their homes, or their retirement. I simply believe that Nevadans know better how to spend their money than bureaucrats in Washington. Making the tax cuts permanent and maintaining a responsible budget is the right thing to do and will help to sustain our economic prosperity, now and in the future.  

 

 
 
 
 

 
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