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Friday, 21 April 2017 10:04
Louisiana budget woes, taxes scares and end the film industry? Going for broke
 
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brokeLouisiana budget woes, taxes scares and end the film industry?

Does Louisiana need to raise taxes again this legislative session? How did we get into the mess where our budget woes have become an annual event or “rite of spring legislative session”? Where do we cut, whether we raise taxes or not? What about the film industry tax credits? Should they be pared back, expanded or eliminated altogether?
These are some of the topics Louisiana Senator Conrad Appel discussed during the last part of an online video Facebook Live interview, which took place last week.

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According to the Senator, before Hurricane Katrina, the budget was around 15 million and that after Hurricane Katrina came “we got a massive spike in revenues to save Louisiana-- some federal, some insurance money”.
He said that “just prior to my election (Louisiana) went on a spending spree and they spent like drunken sailors on using one-time money to fund recurring expenses”. However, Appel submits, that now we’re at about $53 dollars a barrel and it is not going back up to where it was anytime soon.

Appel said, “ Oil, in and of itself doesn't represent massive amount of our budget like it once did but it represents jobs and business taxes personal and business tax is coming from jobs when oil prices are low and there's no exploration, you lose all these jobs and you lose all these corporations and so that we're not getting the cash, so now we're at a new norm, the state is at a new normal that's the spending part” The Senator also said, “ we need to align spending with revenue that's what you're hearing out of the legislature--it's not just cut taxes. it's we shouldn't be spending in excess of what is a reasonable amount of revenue for state Louisiana based on the economy that we're living in”.
He knows his position is not a popular one in Metairie but feels the state must live within its means.
Watch the video for the complete segment

Last modified on Friday, 21 April 2017 10:35
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