Pelican Institute Statement on Governor’s “Fiscal Cliff” Proposal Outline
The Pelican Institute applauds Governor John Bel Edwards for releasing a broad outline of his proposal to close an anticipated $1 billion budget gap as we approach 2018. That said, as it stands, the plan lacks sufficient detail to accomplish any meaningful analysis of its impact on Louisiana’s economy, and we call on the Governor to release the full details of his plan as soon as possible.
Unfortunately, at this stage, it appears the Governor is planning to rely heavily on increased taxes on Louisiana jobs and Louisiana workers, which will only serve to hamper economic growth and opportunity. We look forward to a discussion about the best ways to balance the budget and grow the economy. The state needs to live within its means, and job-killing taxes will only further exacerbate the problems we face today.