Economy
For more information concerning work and views related to Economy, please contact our office.
More on Economy
Congressman Steven Horsford discussed the misuse of Temporary Assistance for Needy Families (TANF) funds and the need for reforms in a hearing of the Committee on Ways and Means. He highlighted the impact of poverty wages, including the sub-minimum wage for tipped workers, and advocated for the TIPS Act to raise wages and eliminate income tax on tips.
Congressman Horsford spoke about H.R. 1504 in a Natural Resources Committee hearing, focusing on modernizing the Apex Industrial Area’s permitting process. The bill aims to streamline infrastructure development, creating jobs and strengthening Nevada’s economy.
WASHINGTON – Today, Congressman Steven Horsford (NV-04) introduced the Tipped Income Protection and Support (TIPS) Act, landmark legislation aimed at eliminating the subminimum wage for tipped workers across the United States. It also ends the income tax on tips these workers receive. The bill seeks to ensure that all workers, regardless of their profession, receive fair wages and are not forced to rely on tips to make ends meet.
Congressman Steven Horsford will be joined by impacted workers, business owners and advocates to introduce The TIPS Act. The legislation will eliminate taxes on tips for service workers, and will eliminate a relic of post-slavery Reconstruction, a subminimum wage for tipped workers.
Rep. Steven Horsford introduced his version of a no-tax-on-tips bill that includes getting rid of the federal tipped subminimum wage, which he said would make a bigger difference than the Republican-led bills currently on the table.
The Tipped Income Protection and Support (TIPS) Act would exempt tips from federal income tax up to a certain threshold while maintaining payroll taxes for Social Security and Medicare, and it would eliminate the federal tipped subminimum wage of $2.13 an hour.
“We are pleased by Vice Chair Barr’s announcement that he will recommend that the Board re-propose the Basel endgame rules and the acknowledgment that broad and material changes to the proposals are warranted. We agree that there are benefits and costs to increasing capital requirements. In January, we sent a letter to the Agencies, signed by nearly 60 members of Congress, asking that they carefully consider how the proposal may impact underserved and minority communities seeking small business credit and mortgage loans.
WASHINGTON—Congressman Steven Horsford (NV-04) has been reappointed to the prestigious House Ways & Means Committee, the oldest and only committee named in the U.S. Constitution. This critical committee shapes national policies on healthcare, Social Security, Medicare, tax fairness, and trade.
Nevada stands out with the highest concentration of tipped workers in the nation. From the skilled bartenders crafting cocktails to the dedicated servers providing exceptional dining experiences, hospitality professionals are the backbone of the Las Vegas economy and a key reason tourists return to our state.
Transportation Secretary Pete Buttigieg joined Nevada elected officials to break ground Monday on a $378 million construction project designed to create more efficient, frequent, and speedier bus transit on one of the busiest corridors in Southern Nevada.