House Republicans are looking to lower the state income tax even lower than the flat three-percent they did during the special session last fall. The House has approved a proposed constitutional amendment that seeks to lower the state income tax to 2.75 percent beginning January 1st, 2027. Author Julie Emerson of Carencro says it would make Louisiana more competitive in attracting business and residents.
The vote was 86 to 13, with all “no” votes coming from Democrats. New Orleans Representative Matthew Willard expressed concern about budget cuts because of a decline in state revenues especially since the state just lowered the state income tax five months ago…
Cut 14 (11) “…state’s revenue.”
On a tie vote, the House Insurance Committee failed to advance a bill that would have prohibited insurance companies from using credit scores as a factor in determining premiums. In Louisiana, drivers who have a poor or fair credit score pay higher premiums than drivers with very good or excellent credit scores. Baton Rouge Democrat Edmond Jordan says a credit score doesn’t determine a person’s driving ability.
Committee Chairman Gabe Firment asked Jordan if his bill passed, when would drivers with poor credit actually see lower auto insurance rates.
Opponents of the legislation also say drivers with low credit scores are more likely to sue in the hopes of getting a big settlement because of their financial situation. The vote was 9-to-9; on tie votes, bills do not advance. The committee could take it up again before the end of the session, but that appears to be unlikely.