Governor Jeff Landry has called a special legislative session a day after the presidential election to address tax reform aimed at boosting the state’s economy and making it more family- and business-friendly. Landry’s plan focuses on tax cuts, income tax reductions, and increased take-home pay. Department of Revenue Secretary Richards Nelson says reactions are very positive…
“Everybody wants to move the state forward. There’s details that are still being worked out, and I mean it’s good because when everybody comes to the table, everybody has a different concern and we can try and balance those against all the competing interests.”
The reforms aim to broaden Louisiana’s tax base, following models from other states like North Carolina. The Public Affairs Research Council projects that higher-income residents will receive around 54% of total tax cuts, though lower-income earners could see proportional relief, with some households under $35,000 potentially experiencing a 50% tax cut. Nelson says this is a bipartisan plan…
“It’s not a real partisan plan at all. It’s based on years of studies, and committees and experts that have looked at Louisiana’s tax code and said this is how we become more competitive.”
Additional proposals include doubling senior tax deductions, raising teacher pay, and dedicating 15% of corporate tax revenues to a “rainy day” fund. Nelson says there seems to be agreement that we’re moving in the right direction…
“It really is a plan everybody can support. There’s something in there that everybody will like that will benefit everybody’s constituents, and I think at the end of the day the point is to grow Louisiana and to make our state more competitive and that’s something I think everybody can get behind.”
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