Post by Logan on Jun 21, 2016 20:30:39 GMT -6
Bill would force businesses to choose between tax credit or tax exemption
BATON ROUGE -- Senators approved roughly $400 million in tax increases here Thursday, nearly half of which head to the Governor for final approval as lawmakers approach a June 23 deadline well short of the money needed to fill a $600 million budget hole.
A bill by Sen. Rick Ward, R-Port Allen, could be an unexpected injection of $139 million into the budget.
His measure, Senate Bill 10, would force large businesses that receive the inventory tax credit and industrial tax exemption to choose one or the other. It passed the Senate 23-14, but faces stiff opposition from the state’s business lobbies, and now heads to the House.
“This is your opportunity to make a cut,” Ward told his Senate colleagues. “We’ve cut higher education, we’ve cut healthcare, we have cut everything you could imagine. At some point we have to make a decision as to how much is a little bit too much.”
Read more: www.thetowntalk.com/story/news/2016/06/16/bill-would-force-businesses-choose-between-tax-credit-tax-exemption/86011416/
BATON ROUGE -- Senators approved roughly $400 million in tax increases here Thursday, nearly half of which head to the Governor for final approval as lawmakers approach a June 23 deadline well short of the money needed to fill a $600 million budget hole.
A bill by Sen. Rick Ward, R-Port Allen, could be an unexpected injection of $139 million into the budget.
His measure, Senate Bill 10, would force large businesses that receive the inventory tax credit and industrial tax exemption to choose one or the other. It passed the Senate 23-14, but faces stiff opposition from the state’s business lobbies, and now heads to the House.
“This is your opportunity to make a cut,” Ward told his Senate colleagues. “We’ve cut higher education, we’ve cut healthcare, we have cut everything you could imagine. At some point we have to make a decision as to how much is a little bit too much.”
Read more: www.thetowntalk.com/story/news/2016/06/16/bill-would-force-businesses-choose-between-tax-credit-tax-exemption/86011416/