Economic Forum Projections Show Trump Tariffs Will Tank Nevada’s Budget

So, Where is Joe Lombardo?

CARSON CITY — Today, the state’s Economic Forum – a panel of economists forecasting state revenues for the next two-year budget cycle – will soon confirm Nevada’s expected budget will shrink by between $55 million and $317 million. It would represent a substantial decline from the $12.4 billion budget projected by the forum last December – and comes as a direct consequence of the unrestrained and unprecedented chaos of the Trump White House. Over and over again, economist crunching Nevada's economic data named tariffs and Trump's trade war as the root cause of the decline.

Shelbie Swartz, Executive Director of Battle Born Progress, issued the following statement:

“Today’s projections from the Economic Forum are, put simply, an unmitigated, unnecessary and unconscionable disaster. For the last 100 days, President Donald Trump has spent every moment trying – and succeeding – to take the strongest economy in the world and throw it into a self-inflicted recession. Now, tourism is plummeting. State revenue that seemed assured three months ago has evaporated into thin air. Because of Trump’s incoherent tariffs, critical services – from health care to education to public safety – are all under threat. So Nevadans should be asking themselves: Where is Joe Lombardo? Because he’s not fighting these tariffs, he’s not fighting for our economy, and he’s not fighting for Nevadans. No, he’s cozying up to Trump, no matter the consequence.”

Andrew Clarke, Revenue Coalition Manager of New Day Nevada, issued the following statement:

“The results of today’s Economic Forum confirm what we’ve long known: Nevada’s revenue structure is regressive and unsustainable. We’ve built a mirage of a “low-tax” state, but that illusion comes at a real cost. Everyday Nevadans are left with inadequate healthcare, underfunded schools, and worsening public services. Meanwhile, the wealthiest corporations continue to benefit from a system designed to protect their profits—not the public good. Reckless tariffs and mass public sector layoffs have only deepened the cracks in our economy, exposing just how fragile and unfair our current revenue structure truly is.

This isn’t just a budgeting issue—it’s a values issue. If we want a Nevada where families can thrive, we need to raise progressive revenue, shifting the burden off the working class and onto those with the greatest ability to pay. The numbers from today’s Forum don’t just tell a story of economic uncertainty—they make a clear case for bold reform. It’s time to stop patching holes with transferable tax credits and start building a revenue system that actually works for the people who live here.”

Leo Murrieta, Executive Director at Make the Road Action Nevada, issued the following statement:

“Governor Lombardo had a choice: stand up for the well-being of Nevada’s working families, or align himself with the chaos of Trump’s political games. Today’s bleak budget forecast is a direct result of that choice. Instead of protecting our state’s economy and standing against Trump’s reckless tariffs—which directly threaten Nevada’s tourism industry, our largest economic driver—Lombardo stayed silent. He chose to cozy up to extremists and put politics over people. Now, we’re seeing the consequences: a shrinking budget that could mean cuts to the very services our communities rely on—schools, affordable housing, healthcare, and more. This isn’t leadership. It’s cowardice. Nevada families need stability, not manufactured crises and political posturing. We need leaders who will fight for us, not sacrifice our future to protect their own ambitions.”

Laura Martin, Executive Director of the Progressive Leadership Alliance of Nevada Action Fund(PLAN Action), issued the following statement:

“Governor Joe Lombardo owns this; he has been a shameless MAGA cheerleader from day one, whether it be for costly family separation, tax breaks for the ultra-wealthy, cuts to crucial federal programs, or hostility that has impacted tourism to our state. His legislative proposals don’t add up and shows he doesn’t care how Trump’s economy is hurting every day Nevadans. Lombardo’s proposals can not be implemented without painful cuts to social services and other life sustaining programs Nevadans depend on. So now Lombardo has a choice: Trump, or the people of Nevada.”

Dawn Etcheverry, President of the Nevada State Education Association, issued the following statement:

“Actions by the Trump Administration have seriously impacted the Nevada economy and state revenues. Now is the time for legislators to step up to protect the most important state services, like public education, by Passing the Plan for optimal education funding. NSEA has continually championed the $604 million recommended by the Commission on School Funding for this biennium to keep Nevada on track toward achieving the national average in K-12 education funding over the next decade. Instead of meeting the moment, Governor Lombardo has proposed an insulting $2 per pupil increase for next year, a move that falls dramatically short of what Nevada’s students and educators deserve. Without bold action, Nevada risks falling further behind in its commitment to adequately fund public education. Fortunately, lawmakers have options. With more than $2 billion in rainy-day reserves, the Legislature has the resources to meet this moment. In our ongoing effort to Pass the Plan, legislators must be prepared to tap into those reserves to maintain momentum and keep Nevada on track.”

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