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Location:
Las Vegas, Nevada
United States
Las Vegas, Nevada
United States
Work:
AARP State Office-Serving Nevadans statwide through information, advocacy, education, and community service
AARP State Office-Serving Nevadans statwide through information, advocacy, education, and community service
Quote:
"What we do we do for all." Ethel Percy Andrus, Founder
"What we do we do for all." Ethel Percy Andrus, Founder
Nevada Must Protect Tobacco Settlement Funds
Selling Off Tobacco Settlement Money Short-sighted
Loss would impact up to $1 million in Federal matching funds
(Las Vegas, Nev) Selling or “Securitizing” the Tobacco Master Settlement Agreement, an estimated $1.2 billion dollars the state is to receive over the next 17 years, has been proposed as a way to dig out of the financial hole the state finds itself in. We would get $600 - $700 million in cash now, less than half the full settlement. We would also forego federal matching dollars in excess of $1 million per year and any interest that might accrue on unused funds.
The tobacco settlement money provides services for Nevada’s most vulnerable populations—prescription drug coverage of the Nevada’s senior and disabled populations, family caregiver support programs, Alzheimer’s respite care, and home and community based service grants are just a few of the programs supported.
“When you find your self in a hole you need to stop digging,” said Barry Gold, Director of Government Relations for AARP’s Nevada State Office. “Selling the Tobacco MSA will devastate the senior services across the state and create a bottomless hole for senior services so deep we will never get out of it.”
Services provided by the tobacco funds include Senior Rx and Disability Rx –which offers assistance paying for medicines of over 6,950 disabled and low income seniors across the state are invaluable to those who are living at the margin. Without this assistance frail elderly and the disabled would be forced to pay much more in out-of-pocket expenses. Many simply would not be able to afford the medicine they need.
Tens of thousands of Nevadans are living at home with the help of services provided by local agencies due to the Independent Living Grants program funded by the Tobacco settlement. These services are designed to keep people living in their communities as independently as possible and to prevent the need to move into institutions. Staying in your community is where people want to be – and costs the state and taxpayers much less than living in an institution.
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Added: Jul 7, 2008
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