Louisiana Coast with Jimmy Fredrick

Friday, 15 January 2016 14:34
Louisiana politics: Abramson talks, Edwards teams talks revenues; Prez Garvey
 
Rate this item
(0 votes)

Abramson

Louisiana political news for today:

Garvey succeeds Roemer, Abramson explains and—the Edwards Finance Committee Transition report is out.

 

 

 

GARVEY

Jim Garvey, a lawyer from Metairie, was named president. Garvey is in his third term on the education board. He succeeds Chas Roemer, a Baton Rouge member of the education board who didn't run for re-election to the panel.

http://m.apnews.com/ap/db_268748/contentdetail.htm?contentguid=GFIwoHgd

BUDGET/REVENUES

The Jon Bel Edwards transition team on Fiscal Matters has released its report. Of particular note, a little statement about raising revenues:

The committee established 10 guiding principles and provided options for the new administration to consider. The principles make clear that new revenues should only be

considered as a last resort, and should be spread as evenly as possible among individuals and businesses to ensure that sacrifice is broadly shared. Additionally, any revenue-raising measure should also serve to modernize Louisiana’s tax structure by making it less complex

and more efficient.

The revenue options to be considered include:

· Reduce Louisiana’s income-tax rates across the board, if the voters agree to eliminate the deduction for federal income taxes and certain other deductions.

Reduce excess itemized deductions and return to the tax brackets voters originally adopted in the Stelly Plan.

Establish a flat corporate tax rate, if the voters agree to eliminate the federal income tax deduction.

Phase out or reform the corporate franchise tax


Modernize the corporate tax code to broaden the base in a manner consistent with the rest of the South.


Expand the existing state sales tax to cover certain services, and work toward a single collection and distribution system that would allow Louisiana to tax online sales in the event of changes to federal law. · Suspend some part of the sales tax exemption on business utilities. · Increase the fuel tax to bring it in line with the national average and index it to grow with inflation.


Review and modify the industrial tax exemption.


Subject tax expenditures to the same rigorous review as expenditures contained in the state budget; eliminate those that are the least productive and modernize those that are retained so that they produce the maximum benefit to the state.
Further reform the horizontal drilling exemption.


Establish a processing tax on hydrocarbons

ABRAMSON

Rep. Neil Abramson has written a letter that he tweeted today that says he wants Jon Bel Edwards to be successful and claims there is a lot of misinformation floating out in the political rumor-space that needs to be clarified regarding his actions on Monday, the day he ran for Speaker of the House against fellow Democrat Walt Leger and then voted for a Republican, who became Speaker of the House.

GARVEY

Jim Garvey, a lawyer from Metairie, was named president. Garvey is in his third term on the education board. He succeeds Chas Roemer, a Baton Rouge member of the education board who didn't run for re-election to the panel.

http://m.apnews.com/ap/db_268748/contentdetail.htm?contentguid=GFIwoHgd

BUDGET/REVENUES

The Jon Bel Edwards transition team on Fiscal Matters has released its report.  Of particular note, a little statement about raising revenues:

The committee established 10 guiding principles and provided options for the new

administration to consider. The principles make clear that new revenues should only be

considered as a last resort, and should be spread as evenly as possible among individuals and

businesses to ensure that sacrifice is broadly shared. Additionally, any revenue-raising

measure should also serve to modernize Louisiana’s tax structure by making it less complex

and more efficient.

The revenue options to be considered include:

 · Reduce Louisiana’s income-tax rates across the board, if the voters agree to eliminate

the deduction for federal income taxes and certain other deductions.

  • Reduce excess itemized deductions and return to the tax brackets voters originally

adopted in the Stelly Plan.

  • Establish a flat corporate tax rate, if the voters agree to eliminate the federal income

tax deduction.

  • Phase out or reform the corporate franchise tax
  • Modernize the corporate tax code to broaden the base in a manner consistent with the rest of the South.
  • Expand the existing state sales tax to cover certain services, and work toward a single collection and distribution system that would allow Louisiana to tax online sales in the event of changes to federal law. · Suspend some part of the sales tax exemption on business utilities. · Increase the fuel tax to bring it in line with the national average and index it to grow with inflation.
  • Review and modify the industrial tax exemption.
  • Subject tax expenditures to the same rigorous review as expenditures contained in the state budget; eliminate those that are the least productive and modernize those that are retained so that they produce the maximum benefit to the state.
  • Further reform the horizontal drilling exemption.
  • Establish a processing tax on hydrocarbons

ABRAMSON

Rep. Neil Abramson has written a letter that he tweeted today that says he wants Jon Bel Edwards to be successful and claims there is a lot of misinformation floating out in the political rumor-space that needs to be clarified regarding his actions on Monday, the day he ran for Speaker of the House against fellow Democrat Walt Leger and then voted for a Republican, who became Speaker of the House.

Read more

 

Last modified on Friday, 15 January 2016 15:04
Media Sources

BayoubuzzSteve

Website: www.bayoubuzz.com
Login to post comments
  • Despite 5th plea, Schiff says House Intelligence Committee pursues Flynn's documents
  • Facebook Live: Discuss harm of Trump budget proposal on Louisiana coastal economy, restoration
  • Governor Edwards welcomes Pence with Medicaid, budget, Louisiana coast wishlist
  • World Premiere tonight in N.O. Bilderberg, the Movie

flynn2Despite General Michael Flynn’s announcement via his counsel that the General and former head of National Security, would take the 5th Amendment in Congressional proceedings, the Intelligence Committee will pursue information, regardless.

Read More

560 usgs land loss map 2The efforts to rebuild the Louisiana coast has suffered a major and immediate setback, assuming that Congress goes along with the most recent budget proposal from President Trump.

Read More

penceToday, Governor John Bel Edwards welcomed Vice President Mike Pence to Louisiana as he Veep is attending a event with top Louisianqa Republican officials. Along with the welcome, however, is a wishlist of requests including an item of recent vinctage involving the current Trump budget which tears a hole into the funding for the Louisiana coastal restoration. 

Read More

bilderbergIt is always an honor when a movie premiere is held in New Orleans and tonight is no exception. At 7:30 p.m. Bilderberg, the Movie will premiere at the historic Prytania Theatre, 5339 Prytania Street.

Read More

BB Menu

latter-blum2

Sen. Appel talks budget, economy

TRUMP TALK

Dead Pelican

Optimized-DeadPelican2 1 1