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The governor’s ambitious tax reform package includes a merger of two Louisiana trust funds that help promote financial stability for the state, a change that lawmakers should weigh carefully. The proposal that lawmakers will consider in the upcoming special session on taxes involves the Budget Stabilization Fund (commonly known as the state’s “rainy day” fund) […]
RESET hired well-known economist and fiscal expert Greg Albrecht to conduct an independent analysis of the tax reform plan recently proposed by Gov. Jeff Landry’s administration for debate during an upcoming special session of the Legislature.
The Public Affairs Research Council of Louisiana believes comprehensive, responsible tax reform is long overdue. The state’s tax system is cluttered with too many exemptions, deductions and credits. It contains outdated, uncompetitive taxes that are out of step with the rest of the country.
A year after lawmakers passed the state budget in a frenzied final few minutes before theirdeadline, the Louisiana Legislature adopted a $49 billion compromise package of spending plansthis year with time to spare and no last-minute chaos in their three-month regular session.
Just as it appeared one awful public records exemption bill may be defeated for the current legislative session, another damaging exemption idea could take its place.
A boost to Louisiana’s state income projections will give lawmakers more money to spend over the next 14 months, even as the post-pandemic financial surge continues to taper off and a fiscal downturn edges ever closer.
The state budget crafted by the Louisiana House steers new money to public school programs at the expense of early childhood education, while maintaining the governor’s push to grow spending on state prisons and police.
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