With a projected shortfall for the upcoming biennium of somewhere around $3 billion, Nevada’s budget is in serious trouble. However, the latest concept forfederal bailout money is aimed at providing fiscal relief to beleaguered states, by way of payments Medicaid payments that are otherwise a serious drain on a state budget.
Under the Recovery Act, Nevada received around $450 million to help with Medicaid payments. The current legislation proposes $16.1 billion nationwide. Although Nevada’s ultimate share is unknown (and is of course dependent on the bill passing Congress in the first place), most will view any help as better than no help at all.
Perhaps the biggest beneficiaries of the proposed legislation will be the gubernatorial candidates, who may be able to postpone decisions on some tough budget cuts while the legislation winds its way through the capitol.