State lawmakers return to the capital today to begin a special session to fix the fiscal cliff. Matt Doyle has more from a capital observer.
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The governor and House GOP leaders are jockeying for position on a potential special session grand bargain to fix the fiscal cliff. Jeff Palermo has the story.
Cut 2 (30) “I’m Jeff Palermo.”
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Almost 50 percent of debt Louisianans carry are in collections. It’s a staggering number, but Kelley Ray found out it doesn’t have to be that way.
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The special session kicks off today to address a one billion dollar shortfall. Legislators have until March 7th to find a fix to the looming fiscal cliff or else cuts will occur in the areas of higher education and health care. Council for a Better Louisiana President Barry Erwin says the governor has talked privately with house speaker Taylor Barras on solutions, but
Early reports say legislators are making progress on a fix the to one billion dollar budget gap. Erwin says even though a deal isn’t currently on hand, he expects some agreement to be made.
Edwards is calling for the replacement of the expiring sales taxes with permanent tax reform that would eliminate certain deductions for businesses, and the GOP wants spending reductions. Erwin doubts the governor will get the legislation he wants.
Cut 6 (09) “really unfortunate”
Erwin says he doesn’t expect an agreement to be made that can secure the 70 house votes and the governor’s signature until late into the session.
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Governor Edwards and state lawmakers are in Baton Rouge for the special session to find a solution to the looming fiscal cliff that threatens to gut popular programs like TOPS. The governor is seeking tax reform, and Republicans want spending reductions. Erath Representative Blake Miguez says the GOP caucus is demanding the creation of the Louisiana Checkbook.
He says the program would increase transparency, and would closely resembles Ohio’s Ohiocheckbook.com
Along with implementing Medicaid copays, tighter eligibility, and work requirements, Miguez says he also wants to see a state spending cap that is tied to private sector economic performance.
Cut 8 (06) “state government.”
Democrats say they will not allow a full renewal of the expiring one penny sales tax, as they feel it unfairly targets the poor. Franklin Representative and Democrat Sam Jones wants a budget deal that ensures crucial programs are not underfunded.
Cut 9 (10) “the infrastructure”
Political analysts have warned the special session could be a political minefield, with Republicans attempting to make sure the governor does not leave with a “win” that could propel him to another term in office. Jones says so far, the negotiations have been fair.
Shreveport Representative Republican Alan Seabaugh says he’s beginning to see the framework for a grand bargain.
The special session ends March 7th.
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Springtime is acceptance letter season for most college bound high school students, and the state’s budget uncertainty is causing many to rethink whether they want to attend school in Louisiana. LSU president F. King Alexander is calling on legislators to find a budget solution that funds higher ed and TOPS by the end of the February special session.
Cut 12 (10) “difficult position”
Alexander says there was a noticeable impact the last time the state failed to properly fund TOPS in a timely manner.
Alexander says if lawmakers wait until June to solve the one billion dollar fiscal cliff, the damage will already have been done for the 2018-2019 school year.
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Many Americans are swimming in debt and getting in deeper than ever. One report suggests total household debt has risen to 13-trillion-dollars for 2017. Louisiana appears to be America’s capital of past due debt, with almost half of its residents in debt that has gone into collections. Professor of Economics at Xavier University of Louisiana Dr. Jose Bautista says a lot of workers aren’t making enough money…
Another reason credit debt is so high is the lack of a savings account. Dr. Bautista says most are left with no choice but to use credit cards for emergencies, but it starts a slippery downhill slide…
Medical bills are a large part of financial distress, especially if there isn’t enough insurance coverage. Dr. Bautista says get coverage to cover all your medical needs…
Dr. Bautista says the best thing for a person to do is to quit using credit cards, establish a savings plan and work up from there to try to eliminate debt.
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Rough start to the baseball season, as the LSU Tigers lost two of three from Notre Dame. The Fighting Irish clinched the series victory with an 11-3 drubbing of LSU. The Bayou Bengals had a dramatic come from behind victory on Friday, but it was all down hill from there. Coach Paul Mainieri says it’s hard to find any positives….
For the weekend, LSU’s starting pitchers allowed 16 earned run runs in 10.2 innings. They walked 10 and struck out four and had an ERA of 13.50. LSU also struggled at the plate on Sunday as they were 1-for-9 with runners in scoring position. Mainieri says they have a lot of work to do…
It’s the first time LSU lost a season opening weekend series since 1999 versus Texas. LSU will host UNO Wednesday and then the Longhorns come to the Box for a weekend three game series. Mainieri says this is just the start of a long season…