More Taxes Predicted for Next Special Session

Date: April 06, 2016

Louisiana’s budget crisis still looms.

More Taxes Predicted for Next Special Session

The 2016 regular session began last month with a looming $800 million budget gap for the fiscal year beginning July 1, despite the $1 billion raised in taxes during the special session. And while the Legislature cannot raise taxes during the three-month regular session, Louisiana House Speaker Taylor Barras said he believes more taxes will be coming during an “inevitable” second special session, reported The News Star.

Meanwhile, NFIB has vowed to hold Gov. Edwards and the Legislature to the temporary nature of tax measures passed during the first special session—a 1 cent sales tax increase and elimination of many sales tax exemptions.

“Leadership promises that the increase in sales tax is a temporary measure to help Louisiana climb out of this financial hole,” says Dawn Starns, NFIB’s Louisiana state director. “Once we’re out of debt and back on track, the governor and Legislature may be tempted to keep the utility tax and higher sales tax in place in order to fund pet projects, but that’s not going to fly.”

In addition to helping secure a variety of victories for small business during the special session, NFIB is focused on pushing back against minimum wage increases and equal pay mandates that will be attempted during the regular session.

Keep an eye out for action alerts on these issues, and help take action against business-harming mandates that Louisiana cannot afford.

Related Content: Small Business News | Economy | Louisiana | Taxes

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