NFOA — Nevada Fiscal Offset Authority

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Nevada’s Framework for Fiscal Efficiency, Debt Reduction, and Tax Relief

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A fiscal reform framework proposed by Donald J. Beaudry Jr., Republican candidate for Governor of Nevada (2026)

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Together with the Nevada Investment Authority (NIA) and the Nevada Global Exchange (NGEX), NFOA forms the government reform and fiscal responsibility layer of Nevada’s long-term economic architecture — eliminating unnecessary waste, enforcing discipline, and protecting essential services.

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The Nevada Fiscal Offset Authority (NFOA) is a proposed public authority designed to modernize how Nevada manages public spending, offsets debt, and reduces long-term tax pressure — without raising taxes and without cutting essential services.

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NFOA exists for one purpose:

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To eliminate waste, recover lost value, and apply disciplined management so Nevada families and businesses keep more of what they earn.

 

 

Nevada doesn’t need higher taxes.

Nevada needs better management.

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For decades, Nevada has operated with outdated systems, inefficient spending practices, and layers of bureaucracy that drain billions of dollars every year. At the same time, families are asked to pay more — while government delivers less.

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This is not a revenue problem.
It is a structural management problem.

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What the Nevada Fiscal Offset Authority Does

NFOA serves as the fiscal efficiency and offset mechanism within Nevada’s long-term economic architecture.

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Its role is to:

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• Identify and eliminate wasteful government spending

• Streamline overlapping agencies and administrative layers

• Recover value from underutilized public assets

• Improve procurement, oversight, and compliance systems

• Apply savings and recovered revenue toward reducing debt and tax pressure

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NFOA does not reduce services.

It reduces inefficiency.

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The Structural Challenges Facing Nevada

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Independent review of Nevada’s budget reveals persistent pressure from:

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• Redundant agencies and overlapping functions

• Excess administrative overhead

• Outdated procurement and vendor contracts

• Low-return corporate tax abatements

• Weak spending oversight and compliance

• Underutilized state-owned land and facilities

• Inefficient or obsolete government technology

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These inefficiencies compound year after year, eroding fiscal stability and public trust.

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How NFOA Fixes the Problem

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NFOA operates under a single governing principle:

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Cut waste — not services.
Improve efficiency — not taxes.

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Key Reform Areas Administered by NFOA

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1. Modernized State Procurement & Contracting
Eliminate redundant contracts, overpricing, and outdated vendor agreements.
Estimated annual savings: ≈ $1.4 billion

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2. Administrative & Bureaucratic Consolidation
No reductions to police, fire, teachers, nurses, or frontline workers.
Reforms apply only to duplicated departments and non-essential management layers. Estimated savings: ≈ $1.0 billion

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3. Review and Elimination of Low-Return Corporate Abatements
Public incentives must deliver measurable benefit to Nevada’s economy.
Estimated savings: ≈ $1.2 billion

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4. Strengthened Benefits Integrity & Anti-Fraud Oversight
Modern audit and compliance tools reduce improper payments statewide.
Estimated savings: ≈ $0.9 billion

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5. Leasing — Not Selling — Underutilized State Assets
State buildings, land, and facilities generate recurring revenue without privatization.
Estimated annual revenue: ≈ $1.7 billion

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6. Federal Match & Waiver Optimization
Improved administrative coordination recaptures funds Nevada currently forfeits.
Recovered revenue: ≈ $1.0 billion annually

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7. Digital Infrastructure Leasing Zones
Low-footprint, high-value leasing for cloud and advanced computing infrastructure.
Estimated revenue: ≈ $0.5 billion

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8. State Licensing for Advanced Compute Infrastructure Operations
Position Nevada as a national hub for oversight and licensing of modern compute facilities.

Estimated revenue: ≈ $1.0 billion

Annual Fiscal Impact

≈ $10.8 billion per year

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This value is recovered without tax increases and without cutting essential services.

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What NFOA Will Cut

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• Waste

• Redundant bureaucracy

• Non-performing subsidies

• Failed contracts

• Administrative bloat

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What NFOA Will Protect

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• Police, fire, and emergency services

• Teachers and schools

• Nurses and healthcare services

• Rural access and infrastructure

• Veterans’ programs

• Senior and child protections

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Frontline workers will be protected.
The waste behind them will not.

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How NFOA Fits Nevada’s Economic Architecture

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• NFOA reduces waste and offsets fiscal pressure

• NIA — Nevada Investment Authority manages public capital for long-term returns

• NGEX — Nevada Global Exchange generates recurring non-tax public revenue

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Together, these three institutions allow Nevada to permanently reduce — and ultimately eliminate — reliance on:

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• Sales taxes

• Property taxes

• Business taxes

• Payroll taxes

• Gaming taxes

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Not temporarily. Structurally.

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The Standard Going Forward

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Nevada doesn’t need higher taxes.
Nevada needs higher standards.

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The Nevada Fiscal Offset Authority establishes those standards through:

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• Fiscal discipline

• Transparency and accountability

• Modern financial governance

• Long-term stewardship of public resources

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When waste is removed and revenue systems are built, Nevadans keep what they earn.

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That is the purpose of NFOA.​​​​

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APPENDIX: DATA SOURCES & REFERENCES

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The NFOA, NIA, and NGEX frameworks are informed by publicly available federal, state, academic, and financial-market data, together with established fiscal, economic, and regulatory analysis methodologies.

 

The sources listed below represent the primary reference institutions consulted in developing Nevada’s long-term economic architecture.

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Federal & National Sources

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Pew Research Center
Institute on Taxation & Economic Policy (ITEP)
Migration Policy Institute (MPI)
U.S. Census Bureau / ACS
U.S. Department of Homeland Security
U.S. Department of Labor / BLS
U.S. Bureau of Economic Analysis (BEA)
Congressional Budget Office (CBO)
Government Accountability Office (GAO)
Congressional Research Service (CRS)
Federal Reserve Bank (FRED)

Nevada State Departments & Agencies

Nevada DHHS
Kaiser Family Foundation (KFF)
Legislative Counsel Bureau (LCB)
Nevada Executive Budget Office
Nevada Department of Education
DETR
NDOC
DPS
Nevada Department of Taxation
DMV
UMC / DHCFP / Nevada Hospital Association

Academic & Research Institutions

UNR Center for Regional Studies
UNLV Center for Business & Economic Research (CBER)
Urban Institute
Brookings Institution
RAND Corporation
PPIC
NBER
Harvard Kennedy School
MIT Election Data & Science Lab
USC Price School
UCLA Luskin Center

Fiscal & Economic Institutions

Moody’s Analytics
S&P Global Ratings
Fitch Ratings
Tax Foundation
Economic Policy Institute
Heritage Foundation
Cato Institute
Bipartisan Policy Center
National Conference of State Legislatures
National Governors Association
World Bank / IMF
OECD

Financial Regulatory Bodies

SEC
FINRA
CFTC
U.S. Treasury / Office of Financial Research
Federal Reserve Board
Office of the Comptroller of the Currency

Market Data Providers

Bloomberg Intelligence
LSEG / Refinitiv
S&P Global Market Intelligence
Morningstar
PitchBook
NASDAQ
NYSE
CME Group
World Federation of Exchanges
Bank for International Settlements
IOSCO

AI, FinTech, and Quantitative Research

Bloomberg Terminal + BloombergGPT
IBM Qiskit
MIT Laboratory for Financial Engineering
Stanford Computational Finance
World Economic Forum
Financial Stability Board
OECD AI Observatory

Global Finance Comparatives

Monetary Authority of Singapore
Dubai International Financial Centre Authority
Qatar Investment Authority
Norway Government Pension Fund Global
Hong Kong Monetary Authority
European Securities & Markets Authority

Technical Notes / Methodology

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Data compiled using blended federal, state, and independent datasets; inflation-adjusted; cross-verified through economic modeling and recognized fiscal frameworks.