Aguero said Nevada's economy would need to grow at 12.3 percent, an unlikely pace, in each of the next two years just to break even.
Democrats want to restore $920 million to the governor's recommend general fund budget. Of that, $623 million would go to K-12 education; $123 million to Nevada's higher education system; and $174 million to human services such as restoration of mental health courts.
They said their plan also would resolve $615 million in "structural imbalances" in the budget — a reliance on borrowing or taking accounts from local governments, like $300 million Sandoval wants from school district bond reserve accounts.
"I think what we do this legislative session will decide the course of this state not just for the next two years but for a generation," Oceguera said later.
Horsford said Democrats have committed to $339 million in education cuts, including requiring teachers to pay into their retirement, elimination of step pay increases and other incentives.
Additionally, they said they are supporting other reforms identified as Republican priorities, such as performance-based pay incentives, changing the state Board and Education, and extending teacher probation.
Bills implementing the tax proposals will be introduced in both the Senate and Assembly next week.
Lawmakers are barreling toward a June 6 adjournment set by the constitution. A special session will likely follow if a budget agreement is not reached by then.
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