It’s day two of the special session on tax reform. Governor Landry told the legislature that the ultimate goal is to create a tax structure that will put more money in people’s pockets and attract businesses to the state.
Landry’s plan includes lowering the income tax rate to a flat three-percent across the board and boosting the standard deduction to 12-thousand-500 dollars, compensating for it by taxing services not currently taxed. Some groups, like Invest in Louisiana, are sounding the alarm. Director Jan (YAHN) Moeller is concerned the governor’s tax plan will dramatically reduce what the state collects in taxes, resulting in fewer dollars for the state to spend on public services, like higher education. He says that means tuition will go up at Louisiana colleges and universities…
Senator Bill Cassidy has congratulated Donald Trump on his re-election to a second non-consecutive term. Cassidy, who voted to convict Trump in his impeachment trial following the January 6th riot at the Capitol, says he’s looking forward to the Trump Administration unlocking domestic energy production, which will create jobs and provide economic security…
Cut 9 (11) “…energy insecurity.”
Another group hailing Trump’s return to the White House is the state’s oil and gas industry. Mike Moncla, the president of the Louisiana Oil and Gas Association, says President Biden’s policies, including putting a pause on issuing export permits for liquefied natural gas, stifled business in the state.