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Business and Economy

Gov. Sisolak to spend $500 million on tackling Nevada's affordable housing crisis

A man in a suit speaks into a microphone while standing at a podium. He is giving a speech inside a football stadium.
Omer Khan
/
Las Vegas Raiders
Nevada Gov. Steve Sisolak delivers an off-year State of the State speech from Allegiant Stadium in Las Vegas on Feb. 23, 2022.

Nevada Gov. Steve Sisolak outlined how the state will spend nearly $2 billion in federal COVID-19 relief funds during a rare off-year State of the State speech on Feb. 23 at Allegiant Stadium in Las Vegas.

A big piece of the governor’s plan would be to spend $500 million on lowering housing costs, which have surged during the pandemic. The plan, which Sisolak says is the largest housing-related investment in state history, would increase the construction of affordable multifamily units and expand homeownership opportunities.

“While I can't promise to solve the national inflation problem, I can promise to do everything in my power to help families with a rising cost of living,” Sisolak says.

Sisolak also says another $160 million would be put toward lowering the cost of child care. This would double the number of families that are given financial assistance for care.

Sisolak, a first-term Democrat up for re-election in November, says these plans – and the rest of his proposals – could be accomplished without raising taxes.

State Senate Republican caucus leader James Settelmeyer pre-recorded a response to the speech. He says Sisolak is using federal relief dollars as a band-aid for issues that will continue to cost the state once the money is used up.

“Spending money is not leadership,” Settelmeyer said. “Leadership is about making our government more efficient and effective for the people. This money will be spent to grow the government’s size, but with no thought of how to fund that growth when the money is gone.”

The State of the State address is usually delivered at the start of Nevada’s Legislative sessions, but Sisolak says he wanted to give Nevadans insight into the state’s economic recovery from the coronavirus pandemic.

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