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With no solution on fiscal cliff, what happens next?
Posted on 3/6/2018 12:47:00 PM.
So what happens now that the legislature wasn't able to come to any agreement on solving the fiscal cliff? Governor John Bel Edwards doubts legislators can pass a budget for next fiscal year in the regular session, so another special session is likely.

 
"As a result, I've already asked Senate President John Alario and House Speaker Taylor Barras adjourn their regular session by mid-May, doing so would allow us to have a special session that would conclude by June 4th," Edwards said. 
 
But Republican House Appropriations Chairman Cameron Henry is optimist they can pass a budget in the regular session, because the state can do more to reduce its spending. 
 
"Remember, a shortfall is defined as money that agencies want, not what they need, so when we say we have a shortfall, we are not able to give the agencies all of the money they want," Henry said. 
 
The state is facing a billion dollar shortfall, but Louisiana will receieve an additional 300-million dollars in state tax revenues, because of changes made as a result of the federal tax overhaul. 
 
Edwards says even with the extra revenue deep cuts will be needed and there will be more urgency to raise revenue in a special session that he hopes will begin in May. 
 
"And actually see the choices they are going to have to make to try to fashion a budget in 694-million dollars less in state general funds than they have this year," Edwards said. 
 
 
 
budget, Cameron Henry, John Bel Edwards, shortfall, taxes



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