The Pelican Institute has introduced a bold new fiscal reform plan aimed at revitalizing Louisiana’s economy, creating good-paying jobs, and making the state a place where families can thrive. Central to this proposal is the phased elimination of state income taxes, paired with strong spending reforms to ensure Louisiana’s long-term fiscal stability.

The plan’s objective isn’t just about lowering taxes—it’s about spurring economic growth that benefits all citizens. Pelican CEO Daniel Erspamer emphasized the importance of this dual approach: “Louisiana families are leaving because they can find better opportunities elsewhere. Our plan is designed to reverse that trend by creating jobs and helping businesses flourish.”

In addition to cutting taxes, the proposal includes strict spending limits tied to population growth and inflation, ensuring that state government grows only as needed and doesn’t outpace the economy. By curbing excessive spending, the plan frees up resources to stimulate job creation and investment. An economic analysis projects that the reforms will create 5,000 new, well-paying jobs and generate $2 billion in economic activity within the first year.

This fiscal reform isn’t just about numbers; it’s about improving quality of life. The Pelican Institute envisions a Louisiana where businesses thrive, families stay, and opportunities abound. But these gains won’t happen without responsible spending. For tax reform to work, the state must rein in government growth, ensuring that Louisiana remains on solid fiscal footing.

This comprehensive approach—combining tax relief with fiscal discipline—creates a stable environment for economic growth and ensures that Louisiana remains competitive. By committing to these reforms, Louisiana has a chance to create a brighter future, with more good-paying jobs and a flourishing economy that works for everyone.

The full report, outlining the Pelican Institute’s vision for economic prosperity, is available here