A bill to repeal the state’s income tax has been filed and is awaiting a hearing in the House Ways and Means Committee. Columbia Representative Neil Riser says it’s time to give Louisianans relief from rising costs by eliminating taxes.
“We’ve had inflation. Insurance been going up on automobile, home, liability. In my opinion it’s time we give that money back to the tax payer with it shown now with a seven time multiplier back in the local economy.”
There’s been talk at the capitol for several years about repealing state’s income tax. Riser’s bill would eliminate state taxes on income starting January 1, 2026.
“If you remember J.F.K said, we’ve thrown our hat over the wall now we must go get it. I’m throwing a hat over the wall, it’s time to quit talking about it. So, we’ll bring it before Ways and Means and see if everybody serious about it. I know I am.”
It’s estimated the amount the state will lose in revenue is around $4.5 billion dollars if the state repeals the state income tax. Riser says Louisiana could offset the loss of that revenue by getting rid of dozens of different tax credits and rebates.
“The straight up easiest way to do it is we run bout nine billion in rebates and credits inside this state that’s accumulated since the 1930’s. You just go and take that percentage out and give it back to the people and that’s roughly about $4.5 billion.”
Riser notes that nearby states of Texas and Florida have no income taxes.
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