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PNS Daily Newscast - October 20, 2020 

GOP Sen. Lamar Alexander comes to the defense of Dr. Anthony Fauci; the NAACP goes to bat over student debt and Election 2020.

2020Talks - October 20, 2020 

Early voting starts in Florida, and North Carolina allows election officials to start the ballot curing process. Plus, Trump's attacks on Dr. Fauci.

Nevada Protestors Say "Bad Timing for Banks To Penny Pinch"

March 22, 2007

Protestors will be cutting up a giant bankcard at the state legislature today. They say it's the wrong time for a measure (SB233) that would let banks off the hook for some $20 million in franchise taxes they pay to Nevada. Comments from Bob Fulkerson of the Progressive Leadership Alliance of Nevada who says they should keep pitching in, given their large profit margins and the state's $100 million projected shortfall.

"We have an oversized bankcard that we're going to be cutting up into little pieces in the halls of the legislature, to say if they're withdrawing their support from our seniors and from our kids then we're withdrawing our support from these banks."

Proponents of the measure say proceeds from the tax have exceeded expectations, so it is possible to relieve the banks now. Fulkerson say the burden is tiny, compared to the banking industry's high profit margin, and the tax revenue is needed to help offset the $100 million shortfall Nevada faces in the coming two years.

While all banks in the state would catch a break, Fulkerson says two institutions are pushing the hardest for repeal of the tax.

"Leading the charge is Wells Fargo and Bank of America; their assets are measured in the trillions of dollars so to say that they can't afford, you know, a couple a million dollars a year to pay for our kids and for our seniors and for our schools and for other necessities, is very greedy, quite frankly."

An attorney who represents the banking industry says the taxes unfairly single out the banking business and all the measure tries to do is even the playing field. Fulkerson notes South Dakota is the only other state that does not have the tax. The protest is scheduled to take place at 12:30 p.m. on the front steps of the Nevada Legislative building.

Michael Clifford/Eric Mack, Public News Service - NV