Republican Senator Dean Heller is integral to the passing of The Tax Cuts and Jobs Act, a bill he believes will help the nation's economy on a broad scale, as well as Nevadans. Democrat Senator Catherine Cortez-Masto, along with every Democrat in the Senate, voted against the bill.
Cortez-Masto said that this bill favors corporations and the top 1% in income and that giving tax breaks to large corporations does not translate to trickle down economics.
"It didn't work under Reagan, it didn't work under Bush, and it's not going to work now," Cortez-Masto said.
Cortez-Masto believes that corporations will buy back stock or pass on deductions to shareholders, instead of raising wages or reinvesting in the company.
"That does not grow the economy that does not help with the people in Nevada, those hard-working families, who need an increase in wages," Cortez-Masto said. "Wages have been flat."
Senator Heller believes that this tax cut will help spur growth in an economy that needs it.
"This broad, complex piece of legislation will do exactly what a bill like this is designed to do," Senator Heller said. "And that creates jobs, and increase wages for the middle class, and then make sure our businesses around the world are competitive."
While it's impossible to predict how individual corporations will spend their deductions, a bill like this will certainly give them some flexibility.
"The implication of this bill is that it's going to really be a great stimulus to our overall business economy particularly in this region." Ann Silver, President of the Reno-Sparks Chamber of Commerce, said.
