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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.
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