The Louisiana Senate is expected to vote on the tax reform bills that made it through the Revenue and Fiscal Affairs Committee. The committee kept the income tax plan at a flat three-percent, but it restored the historic preservation and film tax credits, and they inserted an option for local governments to tax pharmaceuticals. Committee Chairman Franklin Foil, a Republican, says tax reform is always a tricky thing to accomplish.
Cut 4 (07) “…run their cities.”
Democrat Jay Luneau says he proposed a bill to make corporate tax credits non-refundable.
The biggest question is regarding sales taxes. One idea is to add fewer services to the sales tax base and raise the state sales tax to up to five-percent. The special session must end Monday evening.
For the third year in a row, Louisiana’s statewide school performance score has increased, and it is now at its highest level under the current scoring system. State Superintendent Cade Brumley says the state is clearly going in the right direction.
Cut 11 (07) “…keep pushing forward.”
Brumley says the steady rise is a testament to the work of everyone involved.
A five-billion-dollar artificial intelligence data center that Facebook parent company Meta is planning in Holly Ridge, near Monroe, would be a huge economic boost to the region. Economist Loren Scott described the project as transformative for northeastern Louisiana.
Cut 8 (06) “…real game changer.”
Meta chose the area due to its location out of the hurricane zone, available land and electricity. The data center would create up to 500 jobs, many of which would pay in six figures, and it could be up and running in three years.