The legislature is debating Governor Landry’s tax reform proposal on this, the second day of the special session. A flat income tax rate of three-percent is at the center of Landry’s proposal. He says it would result in the biggest tax cut in Louisiana’s history as the income taxes would be lowered for most working citizens…
To offset the loss of tax revenue from lower income taxes, the governor is proposing, among other things, to tax many services that are not taxed. Lawmakers have until November 25th to consider the proposal during this special session. Chalmette Representative Mike Bayham says given the complexity of the proposal and all of its components, that likely will not be enough time to consider everything.
The U.S. political landscape remains in flux as the House of Representatives awaits resolution, but former President and President-elect Donald Trump holds a strong mandate and influence over the Republican-controlled Senate. Senator Bill Cassidy says even with G-O-P control, he and other members of his caucus will still need to reach across the aisle…
Cut 3 (11) “…than the minority.”
Louisiana’s oil and gas industry is hailing Donald Trump’s re-election. Mike Moncla, the president of the Louisiana Oil and Gas Association, says it will be good to have a President who will ease up on regulations, since according to him the Biden administration was not friendly to the industry.