Nevada Democrats have voted to endorse a 2 percent business revenue tax that could significantly boost funding for the state’s schools.
Democratic Party member Michael Strongin tweeted Saturday afternoon that the group voted 92-78 in favor of the Education Initiative, a proposal that would levy the tax on businesses annually grossing more than $1 million after payroll costs or the costs of goods sold.
The Nevada State Education Association and its allies have backed the tax as a means to inject approximately $400 million a year into the state’s education system, according to union financial estimates.
Caught between constituents who support the margins tax and a campaign fundraising base that opposes it, Democratic legislators have so far been mostly silent about their stance on the proposal, which will be on the 2014 ballot.
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