Former Jindal Administration staffers are calling on the House to pass the half cent sales tax renewal that would fully fund state government, and avoid cuts to programs like TOPS. Former Commissioner of Administration Paul Rainwater says failing to pass the revenue bill would harm the most vulnerable people in the state.
Rainwater coauthored an editorial with former Jindal Revenue Secretary Tim Barfield.
Many legislators have credited the current fiscal crisis to fiscal mismanagement during the Jindal years, where one time money was often used to fill budget holes, and deep cuts were enacted on higher education. Rainwater says long term tax reform has a long history of failure.
Parents who are interested in saving up for their kids K through 12 education now have the option of a state backed, interest accruing, and federal tax free savings account as a result of a new law signed by Governor Edwards. Baton Rouge Representative Franklin Foil, who sponsored the law as a bill, says there are limits on where you can use the money.
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Is program is called START K12.
Parents are only allowed to withdraw 10,000 dollars per year, per child, from the account, which should cover the costs of many private and public lab schools.
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Foil says this is a safe, secured option to generate some interest and save some tax money on your child’s education, that closely resembles Louisiana START, which allows families to begin saving for their child’s college education.