The fiscal cliff, that seemingly insurmountable object in front of every legislative session since Bobby Jindal took his shot at taming the budget, is fixed. Yes, fixed. At least, on paper and hopefully, in reality, until perhaps, the next mid-decade.
The Louisiana legislators and governor, who have spent almost every day in session since mid-February of this year, have settled upon a budget deal that reduces the sales tax from five cents to 4.45 cents. Today, The Advocate reporter Tyler Bridges, who has been there with the legislators as each tick has tocked on the capitol clock, took a few moments to discuss with me--the session and the budget agreement. The interview occured via Facebook and Twitter Live.
Below is the video transcript of the relevant portions of the interview with Bridges, who will also soon post a "behind the budget deal scene" article for The Advocate.
As prepared for delivery:
The Louisiana governor, John Bel Edwards, has issued his third special session call of 2018 to fix the state budget. The two prior sessions, one ending earlier this week, failed. Here is the notification issued from his office:
We all know that the Louisiana legislature and Governor John Bel Edwards have failed in trying to solve the chronic mystery of the Louisiana fiscal cliff.
During a Facebook-Twitter Live interview, this week, I discussed this failure with the radio talk show host and Political Editor for the African American newspaper, The Louisiana Weekly, Christopher Tidmore.
The state’s Revenue Estimating Conference met today and recognized $346 million in revenues, most primarily due to the Republican-Trump tax cut leaving a difference in the budget shortfall of $647M which is obviously much better than the $997 million hole we were looking at prior to the regular session. That’s the good news.
Below is the transcript of today's speech to the Louisiana legislative session. The speech was streamed live by Bayoubuzz.com with related tweets off to the side.