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Louisiana’s governor and lawmakers are getting a little something extra in their holiday stockings this year, courtesy of the state income forecasting panel.
The latest federal government shutdown drew attention to the large numbers of people in Louisiana, particularly children, who depend on the federal food stamp program for assistance.
As Louisiana braces for what the National Oceanic and Atmospheric Administration predicts will be another season of “above normal” hurricane activity in the Atlantic, the 2025 season also marks the 20-year anniversary of Hurricane Katrina, one of the most destructive and expensive hurricanes to hit the state.
Louisiana lawmakers shut down their two-month regular session after finishing work on a budget that includes record levels of spending and takes sizable sums of money out of a state savings account for infrastructure projects.
An uptick in Louisiana’s income projections will give lawmakers more wiggle room to build their budget, as they continue to learn the implications of a sweeping tax rewrite they passed six months ago.
The Louisiana House backed a nearly $43 billion state operating budget that keeps many agencies at a largely standstill level of financing, continues the stipend that public school teachers have received for the last two years and adds money for a new voucher program backed by the governor.
The release of Gov. Jeff Landry’s budget proposal to lawmakers came with a cloud of uncertainty. A combination of unanswered questions about state and federal financing sources is driving unpredictability for piecing together the spending plans for the 2025-26 fiscal year that begins July 1.
Louisiana’s governor and lawmakers will get to sidestep debates over whether to make steep budget cuts next year thanks to the tax changes they adopted last month.
Louisiana lawmakers embraced much of the tax rewrite package sought by Gov. Jeff Landry in the just-ended special session, agreeing to lower and flatten income tax rates in exchange for new sales tax charges.
Louisiana has enjoyed repeated state surpluses for the last seven years, and the latest calculations estimate lawmakers will see that trend continue another year. A surplus occurs when a state’s revenue collections exceed its spending within a budget year.
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) […]
The number of people who are elderly is growing at a faster pace than the rest of the population across the country and in Louisiana. The U.S. Census Bureau projects that people age 65 and older will outnumber children by 2034, a first in the nation’s history.
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.