The special session has begun and lawmakers are set to tangle over proposals aimed at rebooting the state’s economy.
Chairman of the Louisiana Economic Recovery Task Force Jason Decuir says first up is codifying relief passed by executive order during the early days of the pandemic, along with items like giving additional capital and resources to restaurants, hotels, and retailers. Legislators will also consider a temporary, and possibly permanent repeal of the franchise tax.
Tax, fee, and regulatory assistance for business will not come free, but Decuir says despite our current budget woes the cost of inaction will ultimately be even higher.
“If we can find and diversify our investment to get those businesses back up and 4running it creates a win-win situation for that business and the Louisiana state coffers,” Decuir.
41 items were scheduled to be discussed when the call for the special session was first made.
Decuir says many of the proposals are aimed at helping businesses that were closed under the stay at home order, but if possible the scope of this state assistance needs to expand.
“As we move into Phase Two we are going to start looking at opening it up a little more just to make sure our economy is back up and rolling,” says Decuir.
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