Nevada Gov. Jim Gibbons formally announced yesterday that he plans to veto the $781 million tax increase bill lawmakers passed Friday. Lawmakers are expected to override the veto promptly. The veto was scheduled for yesterday evening.

The bill will raise $781 million through temporary two-year increases in business license fees, as well as in state sales, payroll, and vehicle registration taxes.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.