Today state lawmakers will get a better idea of just how much money Louisiana stands to lose in the next budget year as a result of the worldwide pandemic and the collapse in oil prices. The Revenue Estimating Conference will meet to discuss the impact with speculation indicating it could be anywhere from 500 to 1.5 billion dollars in lost revenue. Political analyst Bernie Pinsonat says legislators are agonizing over what these numbers will show…
Pinsonat says federal dollars can possibly fill some of the budget holes, but the money comes with strings attached…
In response to the anticipated revenue drop Baton Rouge Representative Rick Edmonds has presented legislation requiring the government only spend 98 percent of it’s estimated revenue to prevent midyear budget cuts if things are worse than expected.
A proposal to end lawsuits filed by local governments seeking damages for coastal damage done by oil and gas companies is heading to the Senate floor…
Cut 2 (31) “…I’m Jeff Palermo”
Governor Edwards is expected to announce at his Monday afternoon press conference at the Capitol whether or not the statewide stay at home order will be lifted May 15th. A resolution is headed to the House floor that would strip the Governor of his authority to enforce the order if he further extends the order.