Scores of new tax laws go into effect next Wednesday. The state income tax will be reduced to a flat three-percent following a 12,500-dollar standard deduction. Manish Bhatt (BOT), the senior policy analyst at the Tax Foundation, says a major goal is to reverse the trend of the state having a net loss in population.
Cut 5 (07) “…economic growth.”
The legislature will once again try to rein in soaring auto insurance premiums in their next regular session. Pollack Representative Gabe Firment, the chairman of the House Insurance Committee, says one of the biggest factors is the cost of litigation.
Cut 14 (14) “…than other states.”
Real Reform Louisiana says limiting drivers’ ability to sue will only benefit the insurance companies and will hurt victims.
New laws governing the sale of CBD and THC products will be going into effect next Wednesday, when the calendar flips to 2025. Ernest Legier (le-ZHAY), the commissioner of Louisiana alcohol and tobacco control, says starting January 1st, the minimum age to purchase these products goes from 18 to 21, with no grandfather clause for those who are between those ages.
Cut 10 (12) “…doing with alcohol.”
A week from tomorrow, we say goodbye to the 118th Congress and inaugurate the 119th Congress. Senator John Kennedy says one of his priorities in the new session is securing the southern border, restoring policies set forth by former and future President Donald Trump.