The Jindal Administration announced on Friday, February 27 that the Governor seeks to repeal some $777,346,103 in state tax credits netting the La Treasury $589,794,455.
The film industry has scrambled successfully to keep from drying up its mother milk from Louisiana taxpayers, if the suggested “fixes” to the Motion Picture Investor Tax Credit contained in proposed bills by a pair of timid legislators serves as an indicator.
In separate bill drafts, state Sen. JP Morrell and state Rep. Julie Stokes propose reforms of the state’s film subsidy, which through the life of the program to 2012 had cost the state $800 million more in taxpayer dollars than it brought in and which at the current rate of project approval will have topped $1 billion by the end of last year. Neither adequately address the hemorrhaging of taxpayer dollars.
First published on LouisianaVoice.com
As our friend and former State Budget Officer Stephen Winham recently said when Moody’s and Standard & Poor’s recently moved Louisiana’s credit outlook from stable to negative, the bond rating agencies are finally waking up to what the rest of us have seen coming for some time now.
Politics in Louisiana 2015 is about to take off in a big way. The Louisiana legislative session will be starting soon. Tomorrow, the legislature and the state will hear how Louisiana Gov. Bobby Jindal will address a whopping $1.6 million budget deficit. As a backdrop, statewide elections and a governor’s race is the Sword of Damocles over the heads of every statewide official or political hopeful.
During the Puritan era, women convicted of adultery were forced to wear the Scarlet “A” on their dresses at all times to publicly shame them for their crime. Today, Republicans who support any form of revenue increase are branded with the Scarlet “T” by their opponents and fervent ant-tax groups for their unpardonable sin of supporting TAXES. Being stuck with the Scarlet T can be fatal to a Republican, particularly during a primary election when GOP candidates are trying to position themselves as furthest to the right with the party faithful.
As policy-makers scramble to find ways to make sure Louisiana can find enough money to spare itself, principally in higher education and health care, from drastic budget cuts comparing fiscal year 2015 to 2016, confusion reigns over what options politics will present -- which may play out over definitions.
The late comedian Brother Dave Gardner once said, “If a man’s down, kick him. If he survives it, he has a chance to rise above it.”
Well, Gov. Bobby is definitely down and we would be remiss if we did not accommodate Bro. Dave’s sage advice to the fullest extent possible.
Citing reduction in oil prices, the Division of Administration released its plan today to Legislators to address the state’s $103.5 million mid-year deficit.
In a press statement, DOA said:
Limited term limits?
All members of the Louisiana Legislature are up for re-election this fall unless they are term-limited. But being term-limited in one legislative body frees them up to pull a switcheroo.
With little fanfare, earlier this month Louisiana released its plan to have health care insurance provided to all citizens. With even less fanfare, the state’s media ignored it because it did not fit their preferred narrative of bigger, more redistributive government.