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...
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...
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...
On Monday, in a major win for policies to Get Louisiana Working, Governor John Bel Edwards signed Representative Beau Beaullieu’s HB 469 into law. HB 469 reforms our state budget process to rein in reckless spending. Over the last few years Louisiana’s general fund has grown by nearly 12 percent, while our population has decreased...
With tens of thousands of Louisianans now out of a job due to effects of the spread of COVID-19, household budgets are being reviewed and adjusted to ensure families stay afloat during this uncertain period. But while individuals and families across Louisiana are facing the largest and most immediate financial impacts of this crisis, the...
On Monday night, nothing could stop Joe Burrow and the LSU offense from marching up and down the field in route to a 42-25 victory over Clemson in the college national championship game. Unfortunately, it looks like Louisiana’s government took a cue from Clemson’s defense, because a new report shows its policies are causing Louisianans...
The non-partisan Tax Foundation recently released its 2020 State Business Tax Climate Index, which measures how each state ranks on its business taxes. For those who have noticed jobs and opportunity uprooting from Louisiana to go elsewhere, the results of the index don’t come as a shock. Louisiana’s business tax climate ranks 41st overall thanks...
The Tax Cut and Jobs Act of 2017 was a shot in the arm for an already strong American economy. By lowering America’s highest in the developed world corporate tax rate and slashing the amount of taxes owed by everyday citizens, the American people are seeing an explosion of jobs and opportunity. But, the Tax...
This week, the Pelican Institute joined groups around the country in signing a letter opposing legislative efforts to increase the Passenger Facility Charge (PFC) for airline tickets. When purchasing an airline ticket, you may notice that there are taxes and fees associated with this purchase. In total, these taxes and fees can account for 20...
On September 1, the Louisiana Treasurer’s office launched its much anticipated website, “Inside the Vault with the Louisiana State Treasurer.” The vault was created in response to a mandate from the state legislature that the treasurer complete a public-facing debt database. Upon review of the initial build of the website, the results are quite impressive....