Post by Logan on Jun 28, 2016 19:54:04 GMT -6
Treasurer John Kennedy assails 'breathtaking' state tax increases; administration says, 'there's a reason for that'
Louisiana legislators last week passed the largest state budget since hurricanes Katrina and Rita a decade ago, State Treasurer John N. Kennedy said Monday.
The $26 billion total budget for the fiscal year that starts Friday is about $3 billion more than the spending for this fiscal year, Kennedy told the Press Club of Baton Rouge luncheon.
The higher spending plan comes with a historic $2.4 billion increase in taxes and fees. Yet that still may not enough to preclude the state government from having to take out a loan later this year.
Kennedy attributed a large part of this coming year’s budget to the increased federal contribution to the state from expanding Medicaid, money which legally must flow through the state operating budget.
Read more: theadvocate.com/news/16236074-123/treasurer-john-kennedy-assails-largest-state-budget-since-katrina
Louisiana legislators last week passed the largest state budget since hurricanes Katrina and Rita a decade ago, State Treasurer John N. Kennedy said Monday.
The $26 billion total budget for the fiscal year that starts Friday is about $3 billion more than the spending for this fiscal year, Kennedy told the Press Club of Baton Rouge luncheon.
The higher spending plan comes with a historic $2.4 billion increase in taxes and fees. Yet that still may not enough to preclude the state government from having to take out a loan later this year.
Kennedy attributed a large part of this coming year’s budget to the increased federal contribution to the state from expanding Medicaid, money which legally must flow through the state operating budget.
Read more: theadvocate.com/news/16236074-123/treasurer-john-kennedy-assails-largest-state-budget-since-katrina