Monday, 21 May 2018 14:33

Budgetary chaos reigns at Louisiana capitol with special session

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by Stephen Waguespack, President and CEO of Louisiana Business and Industry la confusion 5

For almost three years, the state Capitol has been absolutely, positively one thing: chaotic.
The 6th special session during this time-period begins this week and will once again pit the Administration’s desire for tax revenue against the Legislature’s lack of consensus on that very topic. This plotline should sound familiar by now.

The governor’s position is clear. He wants to raise at least $650 million (thankfully down from the $1.2 billion he requested earlier this year) and explicitly notes he has no strong preference as to how to get there. Sales taxes… business taxes… personal income taxes… economic development incentives… whatever. Roughly any tax will do, as long as it brings in enough green for government.

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