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Louisiana politics: Abramson talks, Edwards teams talks revenues; Prez Garvey
  // Friday, 15 January 2016 14:34 // News//
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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.

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Last modified on Friday, 15 January 2016 15:04
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Metairie, Louisiana

Website: www.bayoubuzz.com

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