The House Ways and Means committee held its first hearing of the special session and it became more of a gripe session. Republicans on the panel criticized the Edwards administration for vetoing a budget in the regular session, and expressed concerns about raising revenues, instead of finding savings. Democrats are also frustrated, New Roads Representative Major Thibaut.
The state is facing a 648 million dollar shortfall that could lead to mass reductions in healthcare services, higher education funding, and TOPS.
Oil City Representative Republican Jim Morris says leaning on taxes now means more taxes later.
Reports indicate that a consensus may be growing on plugging a portion of the budget shortfall by renewing half of the one penny sales tax that is set to expire. Baton Rouge Representative Ted James says the Edwards administration is not asking for an overall increase in taxes, because renewing just some of the expiring revenue would still be a tax cut relative to last year…
As a way to generate revenue, the Edwards administration is also propsing the elimination of ceratin sales tax breaks enjoyed by specific industries and buisinesses, known as “cleaning the penny”. Baton Rouge Representative Barry Ivey says he prefers spending reform as a way to address the fiscal cliff…