Earlier this fall, the legislature passed a sweeping package of tax reforms. Next Wednesday, they go into effect. Kace Kieschnick (KEESH-nick) reports.
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Lawmakers are honing their agendas in advance of the 119th Congress that gets underway a week from tomorrow. Andrew Greenstein reports.
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When the legislature convenes for its next regular session, one thing they’re expected to tackle is the soaring cost of auto insurance. Andrew Greenstein reports.
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Come next Wednesday, scores of new tax laws will go into effect. The state income tax will be reduced to a flat three-percent following a 12,500-dollar standard deduction, which means everyone will see more money in their paychecks. That was one of the cornerstones of the tax reform package that the legislature hammered out in its special session this fall. Manish Bhatt (BOT), the senior policy analyst at the Tax Foundation, says while that is certainly good, it is offset by a provision that will cost everyone more money.
Bhatt says one of the goals behind reducing the state income tax is to reverse the trend of the state having a net loss in population.
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Bhatt says with these sweeping tax code changes, Louisiana is now setting the example for other states to follow.
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Lawmakers either returning to Capitol Hill for the 119th Congress or going there for the first time are honing their agendas for the session that starts a week from tomorrow. That includes Senator John Kennedy, who says one of his priorities is energy independence, saying he thinks Congress will move quickly on policies so that America won’t have to rely on other countries for energy.
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Another of Kennedy’s priorities is securing the southern border, restoring policies set forth by former and future President Donald Trump.
Kennedy says he will also work to renew the tax cuts from the 2017 Tax Cuts and Jobs Act that are set to expire. He says if they are not renewed, that would amount to a four-trillion-dollar tax increase.
Kennedy says he wants to strengthen the military to rein in people like Russian President Vladimir Putin and Chinese President Xi Jinping.
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New laws governing the sale of CBD and THC products will be going into effect next Wednesday, when the calendar flips to 2025. Ernest Legier (le-ZHAY), the commissioner of Louisiana alcohol and tobacco control, says starting January 1st, the minimum age to purchase these products goes from 18 to 21, with no grandfather clause for those who are between those ages.
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Legier says the state will also be cracking down on companies selling THC-laced gummies in packages that resemble those of popular candies, so that they are not marketed to children.
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Legier says where you’ll be able to buy CBD or THC products will also change come next Wednesday.
Also, THC-laced beverages will only be allowed to be sold in no more than four-packs, and each 12-ounce beverage will be limited to five milligrams of THC.
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One thing that the legislature is expected to tackle in its next regular session is reining in soaring auto insurance premiums. Pollack Representative Gabe Firment (FUR-mint), the chairman of the House Insurance Committee, says two things that are NOT factors in our large auto insurance premiums are natural disasters and the conditions of our roads.
Firment says one of the biggest factors in our high premiums is the cost of litigation.
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Firment says while the rate of uninsured drivers is not an outlier relative to the national rate, many drivers are underinsured – they do not have enough liability insurance to cover the repairs of vehicles that an at-fault driver damages. He says upping the minimum insurance requirement is a lot easier said than done, since that in itself would drive up those huge premiums even more. Ben Riggs, the executive director of Real Reform Louisiana, agrees with the underinsurance notion, pointing out that vehicles are getting more expensive – and so are the costs to repair them.
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Riggs, however, says reining in the ability for drivers to be able to sue will only hurt the victims and benefit the auto insurance companies. He says a bigger factor is auto insurance companies basing their premiums on credit scores, which he says have nothing to do with whether someone is a good driver or not.
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Riggs says he would also like to see more transparency from insurance companies in how they determine a driver’s premium.
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The LSU football team will take on Baylor in the Texas Bowl Saturday. The Tiger team that takes the field may look a little different from the one fans have seen all season as players have transferred and opted out of the bowl game to prepare for the NFL draft. Running back Josh Williams says the players who stayed are excited for their opportunity…
Baylor is led by former LSU defensive coordinator Dave Aranda, and the 8-and-4 Bears have one their last six games. LSU may have had higher hopes than the Texas Bowl this season, but Tigers Linebacker Whit Weeks says it doesn’t matter who they line up against…
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Despite missing key players entering their final game, Weeks says the Tigers are preparing as hard as ever. He says this week is not just the end of the 2024 season but the start of 2025….
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After Monday night’s debacle, the Saints have nowhere to go but up. The Saints play their final home game of the season Sunday against the Raiders. Interim Head Coach Darren Rizzi says while it’s unclear at this point whether Alvin Kamara will play, the star running back is trying his best to do so.
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Rizzi says Derek Carr is making progress from a broken non-throwing hand and a concussion, and his status for Sunday will be clearer later in the week.