Post by Logan on Jun 21, 2016 20:27:47 GMT -6
BATON ROUGE - People and businesses tired of state lawmakers meddling with Louisiana’s tax structure, threatening their tax breaks and creating financial uncertainty will only get a short-term reprieve when the House and Senate wrap up their work in the special session on taxes.
Gov. John Bel Edwards and the Louisiana Legislature are planning debate over a widespread tax system overhaul for the 2017 legislative session, and they’ve created such a fiscal cliff that they’re backed into a corner to do it.
With the state awash in red ink and facing its worst budget woes in nearly 30 years, the Democratic governor has called lawmakers into two special sessions aimed at raising taxes and scaling back tax break programs to help close gaps in Louisiana’s state operating budget. The most recent session, an 18-day one, must end Thursday.
In that first session, approved tax hikes are expected to raise more than $1.2 billion for next year’s budget. Lawmakers agreed to a 1-cent state sales tax, removed some sales tax breaks, raised taxes on cigarettes and alcohol, charged a new tax on hotel rooms booked through short-term rental sites and lessened business tax breaks.
Read more: www.thetowntalk.com/story/news/2016/06/19/debate-taxes-continue/86120606/
Gov. John Bel Edwards and the Louisiana Legislature are planning debate over a widespread tax system overhaul for the 2017 legislative session, and they’ve created such a fiscal cliff that they’re backed into a corner to do it.
With the state awash in red ink and facing its worst budget woes in nearly 30 years, the Democratic governor has called lawmakers into two special sessions aimed at raising taxes and scaling back tax break programs to help close gaps in Louisiana’s state operating budget. The most recent session, an 18-day one, must end Thursday.
In that first session, approved tax hikes are expected to raise more than $1.2 billion for next year’s budget. Lawmakers agreed to a 1-cent state sales tax, removed some sales tax breaks, raised taxes on cigarettes and alcohol, charged a new tax on hotel rooms booked through short-term rental sites and lessened business tax breaks.
Read more: www.thetowntalk.com/story/news/2016/06/19/debate-taxes-continue/86120606/