With the state economy struggling, and tens of thousands of Louisianans moving out of state, businesses and families need tax and budget reform—to give them an incentive to come to, and remain in, Louisiana.
A successful series of across-the-board tax reforms, touching all layers of the tax code—corporate and individual, and sales and income taxes—will promote growth and expand opportunity. Our state deserves a 21st century tax code that encourages growth and taxes individuals and businesses transparently and fairly. Tax reform can spark an economic revolution in Louisiana—if only lawmakers take the initiative to act, and act boldly.
Along with our tax code, our budget process in Louisiana also needs to be reformed. Over the past several years, Louisiana has lurched from budget crisis to budget crisis, with lawmakers gathering for costly special sessions to patch together yet another stopgap solution. But after years of short-term thinking, policy-makers must now embrace a more comprehensive, holistic approach, to prevent the conditions that created the crises in the first place. Coupled with constitutional reforms that will give lawmakers more flexibility to manage the entire state budget, rather than just small portions of it, improvements to the budget process will modernize the state’s practices—bringing long-needed fiscal stability.
Louisiana is in desperate need of tax reform. The complexity of our tax code sends jobs and opportunities to friendlier states, and our friends and family with them. Simplifying our taxes will bring fairness and predictability to Louisiana, and it is an important first step to writing Louisiana’s comeback story. Right now, Louisiana lawmakers are...
Louisiana’s tax code is a mess. The complexity of our tax code has led to a decrease in investment in our state and a failure to bring new jobs and opportunities to Louisiana. With a dim outlook in Louisiana, our friends and family must make a choice, stay in Louisiana or pursue opportunities elsewhere. The...
Louisiana’s tax code is a serious hindrance to job growth in our state. During the Pelican Institute’s recent “(BIG) Solutions (mini) Summit(s),” our expert keynote speakers and panelists offered several proven solutions to simplify Louisiana’s burdensome tax code. If you missed the Summit(s), take a look at the videos below to learn how we can...
As Louisiana’s economy continues struggling, neighboring states are creating jobs and boosting their economies. One of the primary contributors to the state’s inability to retain residents and remain competitive with our neighbors is Louisiana’s fundamentally broken tax system. Fortunately, tax reform is on the table for the upcoming legislative session, and if passed, it would...
by Brian Balfour, senior vice president of research, John Locke Foundation If Louisiana wants to look for inspiration for tax reform, they could do no better than North Carolina. Aggressive, yet sensible, tax cuts paired with fiscal restraint is what made North Carolina “The national model for conservative tax reform,” according to Patrick Gleason, vice...
by Eric Peterson, director of the Pelican Center for Technology and Innovation Policy At first glance, the December State Employment and Unemployment report from the Bureau of Labor Statistics appeared positive for Louisiana. However, a closer look at the numbers reveals there is still a long way to go in the state’s economic recovery. The...
by Eric Peterson, Director of Policy During the holiday season, Louisianans have more on their mind than the latest state economic reports. Yet as we enter the New Year, it’s important to understand where our state’s economy stands. Two reports, one from the Bureau of Labor Statistics (BLS) and the other from the Bureau of...
by Eric Peterson, Director of Policy As 2020 winds down, I can’t help but reflect on the difficulties we’ve all experienced, both on the health and economic fronts, throughout this year. Fortunately, as a vaccine appears within reach, so too is a return to a strong economy. The latest jobs release from the Bureau of...
What would reforming Louisiana’s tax code do to your paycheck? Tune in Tuesday, as we host a live PeliCast with Louisiana lawmakers and a national tax reform expert to dive into the problems with the state’s current tax framework and discuss the reforms we need to promote growth and expand opportunity in Louisiana. You won’t...
Constitutional Amendment 4 is putting budget stability and predictability on the ballot this fall in Louisiana, and groups across the state are voicing their support for the good government measure. If passed on Nov. 3, Constitutional Amendment 4 will significantly improve Louisiana’s status quo approach to budgeting, which has led our state lurching from one fiscal cliff to...
This hasn’t been a year of positive news. Over the last few months, however, there have been some bright spots for Louisiana and the nation’s economies, as they have been steadily moving in the right direction. But, the latest jobs report from the Bureau of Labor Statistics has some sobering news for those who expected...
When facing difficult financial circumstances, Louisiana families take the steps they need to rein in their spending and plan responsibly for future expenses. This is not the case when it comes to how our state currently approaches budgeting. Fortunately, Louisianans Constitutional Amendment 4, is on the Nov. 3 ballot, is offering an opportunity for Louisianans...
Over the past several years, Louisiana has lurched from budget crisis to budget crisis, with lawmakers gathering for costly special sessions to patch together yet another stopgap solution. But after years of short-term thinking, policy-makers must at long last embrace a more comprehensive, holistic approach, to prevent the conditions that created the crises in the...