Governor Bobby Jindal proposes reducing the size of tax credits in cases where a company or individual receives more money from the state than they owe as a way to balance next fiscal year's budget. Jindal says two of his cabinet secretaries are looking at how this could help the state's fiscal situation.
"I've asked Secretaries Tim Barfield (Revenue Secretary) and Stephen Moret (Economic Development Secretary) to look at these expenditures, so we can achieve additional budget savings and continue to help protect higher education and health care," Jindal said.
The state faces a one-point-six billion dollar shortfall for next fiscal year. Jindal's commissioner of administration, Kristy Nichols, will present a proposed spending plan to lawmakers on February 27th and despite this huge deficit, Jindal says increasing taxes are off the table.
"We are committed to having a balanced budget that doesn't raise taxes that helps to invest in higher education and health care," Jindal said.