A Brightened Forecast … With Caution
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.
Resource Category: Budget & Taxes
A Tighter Budget
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.
New Budget, With Questions
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 Fiscal Cliff Resolved
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.
Overhauling Louisiana’s Tax Structure
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’s State Surpluses
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.
Savings Account Shuffle
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) […]