Congressman Garret Graves is hailing the overwhelming House passage of the Social Security Fairness Act. Andrew Greenstein reports.
Cut 1 (34) “…I’m Andrew Greenstein.”
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A bill that would drastically increase the tax rate for online sports betting from 15% to 51% has been shelved for the session. Sean Richardson says the House Ways and Means Committee still discussed the legislation…
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Louisiana Congressman Garret Graves is hailing the overwhelming House passage of the Social Security Fairness Act. The bill that passed 327 to 75 eliminates the Windfall Elimination Penalty and the Government Pension Offset. Graves says Louisiana has been among the most impacted by these two provisions.
The two provisions had the effect of reducing Social Security benefits for people who worked in the public sector, such as teachers, police officers and firefighters. Graves and co-sponsor Abigail Spanberger, a Democrat from Virginia, filed a discharge petition to force a vote, and a strong majority signed on to it.
The bill now goes to the Senate, which has only a limited amount of time to consider the bill and pass it so that it can get onto President Biden’s desk. Graves says the House spoke loud and clear, and that should force the Senate’s hand.
Cut 5 (13) “…behind this effort.”
Opponents say eliminating those two provisions would put additional strain on the already-strained Social Security.
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Denham Springs Representative Roger Wilder has decided not to move forward with a bill that would dramatically increase the tax rate for online sports betting, from 15% to 51%. Wilder filed the bill to boost state revenue by an estimated $150 million dollars a year to help offset legislation to reduce income tax rates for both individuals and corporations. Pineville Representative Mike Johnson supported the higher tax on sports wagering…
Cut 6 (14) “…take care of the kids.”
Other proponents, like Louisiana Progress Executive Director Peter Robins-Brown says there is clear evidence of an increase of domestic violence as a result of the recent increase in online sports betting…
Cut 7 (12) “…making it easier.”
Louisiana Casino Association director Wade Duty warns the higher tax could discourage online betting platforms, potentially pushing customers to illegal options and impacting brick-and-mortar casinos, which partnered with online sportsbooks.
Cut 8 (12) “…business as usual.”
Caesars New Orleans General Manager Samir Mowad says the tax increase is being done in bad faith with expectations being set for when casinos initially invested in Louisiana…
Online sports betting, legalized in 2021, is now a major revenue source in Louisiana.
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Optimism among small businesses in Louisiana is up – but so is uncertainty. Leah Long, the state director of the National Federation of Independent Businesses, says while the optimism index remains below the 50-year average, there are encouraging signs.
Long says while this year’s holiday shopping season will be of the shortest possible length, when defined as between Black Friday and Christmas Eve, it’s a season that small businesses are looking towards for strong sales.
As for the increase in the uncertainty index to its highest level ever, Long says you can blame the debate in Baton Rouge over tax reform, especially when it comes to businesses not currently subject to sales taxes that may have to start collecting them.