With the special session behind us, state leaders are shifting their attention to tax reform in the upcoming regular session. Jeff Palermo has more…
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Many students are turning to GoFundMe to pay for college as the price of tuition is increasing. Emelie Gunn has more…
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The special session ended with lawmakers agreeing to use $99 million from the rainy day fund to address a $304 million shortfall. Halen Doughty reports…
Cut 3 (30) “I’m Halen Doughty”
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The LSU School of Veterinary Medicine is reminding pet owners to be vigilant about your animal’s physical and emotional well-being when celebrating Mardi Gras. Dr. Nancy Welborn with the school advises parade goers to leave their pets at home because most dogs and cats aren’t used to those situations.
Welborn says be mindful of what you’re feeding your pets. She says king cakes, jambalaya, and fired foods are not pet friendly snacks.
Welborn also reminds people to be watch out for animals playing with Mardi Gras beads or small parade throws as they can become a choking hazard. But she says if you do attend a pet friendly carnival celebration, there are some guidelines to follow.
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Now that the special session is over, attention turns to the fiscal session that begins in April. The Louisiana Budget Project has released its tax reform blueprint. Senior Policy Analyst Nick Albares says we need a tax system that is fair, adequate, competitive, timely, and sustainable. He says one way to do that is to eliminate the federal income tax deduction, which is a credit only two other states offer.
Albares says this credit costs the state nearly $1 billion a year, while only those at the top of the income spectrum benefit from it. He says they’re calling for a reduction in the state sales tax from 5-percent to 4-percent and a broadening of the sales tax base.
Cut 8 (11) “neighboring states”
Landscaping services, haircuts, internet and cable subscriptions, and security services are some things that would be newly taxed under the proposal. Albares says they also want to double the earned income tax credit, which benefits low income working families. He says lower income families currently pay taxes at twice the rate of the wealthiest families in the state.
Other recommendations include limiting some tax exemptions, including the film tax credit, and eliminating excess itemized deductions.
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With the rising cost of college tuition, many students are looking towards the internet to find ways to pay for school. GoFundMe Spokesperson Bobby Whithorne says nationally over the last three years, they’ve had over 130-thousand campaigns on their website raise over 60 million dollars for kids in college. He says there’s been an increase in this state, as well.
Whithorne says the majority of the donations come from friends and family, as students share their GoFundMe campaign on Facebook and other social media sites. But he says there are complete strangers who contribute…
Whithorne advises kids turning to GoFundMe for tuition assistance to just tell your story and show the community how hard you’ve worked to get into your dream school.
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After 10 days of what became some heated debates, the special session ended with lawmakers agreeing to use $99 million from the rainy day fund to address a $304 million midyear deficit. Governor John Bel Edwards originally asked legislators to use the full $119 million available to minimize cuts to state agencies. But he says he’s pleased with the outcome.
But budget cuts are still coming to state agencies. The Department of Health will take the biggest hit with a 36-million dollar cut. Statewide elected officials will have their budget cuts and there will be a reduction in spending on roadwork. But Edwards says some critical state services were spared.
Edwards says the most concerning part of the plan is the $12 million in attrition savings lawmakers believe they identified in funded vacancies in state government. The governor says they will work to identify every dollar that can be saved through funded vacancies, but he’s skeptical that much money is available.