The proposed settlement is heralded by some as a major victory, supposedly securing $100 million for the state to use for coastal restoration. In reality, the proposed settlement, if adopted, would yield nowhere near $100 million and divert much of the money it did raise to unrelated government spending. Two key flaws undermine the settlement’s...View Report
But raising the state sales tax without reducing other taxes will just knock the state of its top-five states for taxes and distance itself from the leaders in the country.
The study finds that the Governor’s tax reform would create 11,810 new jobs in the state by 2017-- or roughly 3,000 jobs per year directly relate to these tax changes—while maintaining revenue neutrality.
Despite having the second lowest statewide sales tax rate in the U.S., a new study shows that Louisiana's combined state and local sales taxes are third highest in the nation, at 8.84 percent.