The Louisiana Budget Project formally endorses the plan “Investing in Early Childhood: A Road Map to Success for Louisiana.” This Road Map outlines the steps Louisiana can take to ensure that the children of this state become successful adults, by using public investments where they yield the highest returns. These efforts include: expanding the Nurse-Family Partnership program, decreasing preterm births, creating a strong system of early education, expanding the Early Childhood Supports and Services program, and by improving the quality of parenting education.
April, 2009
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Investing in Early Childhood: A Road Map to Economic Success for Louisiana
Tuesday, April 28th, 2009Tobacco Tax Increase: Raise the Tax or Bear the Burden
Monday, April 27th, 2009Louisiana Budget Project has released a new report, ”Tobacco Tax Increase: Raise the Tax or Bear the Burden” which analyzes House Bill 75. House Bill 75 proposes significantly raising tobacco taxes in Louisiana. The goals of this legislation are to make Louisiana a healthier state by reducing the incidence of smoking, while also producing much-needed revenue.
Tuesday April 28, 2009 at 9:00a.m., House Bill 75 will be heard by the Committee on Ways and Means in Committee Room 6.
Louisiana Federal Stimulus Update
Thursday, April 9th, 2009LBP has released a new report, “Federal Stimulus Dollars for Louisiana“,which briefly describes the most significant spending and tax provisions affecting low- and moderate-income citizens and provide current estimates of what Louisiana expects to receive.
The American Recovery and Reinvestment Act of 2009 (ARRA) became law on February 17, 2009. Created to stimulate employment and economic growth throughout the country, the ARRA totals approximately $787 billion, including 37% in tax cuts, 18% toward state and local fiscal relief, and the remaining 45% for social and spending programs such as expansion of food stamps, and highway and housing construction. The state fiscal relief funds are intended to reduce the severity of budget cuts and preserve essential state and local services while the tax cuts and spending programs aim to stimulate the economy by bolstering consumption by individuals and businesses.
Earned Income Tax Credit (EITC) Worth Thousands In Refunds
Wednesday, April 1st, 2009Thousands of dollars in tax credits could be available to Louisiana residents who don’t earn enough money to require a federal tax return. The Earned Income Tax Credit (EITC) is a refundable tax credit for low-income working families and individuals and is the federal government’s largest program benefiting lower-income workers. It is time to inform Louisiana’s eligible citizens about this valuable tax break and to let them know what they need to do to claim it.
Single or married people who worked full-time or part-time at some point during the year can qualify for the EITC, depending on their income. Qualifying persons who file a federal income tax return can receive a refund even if no taxes were taken out of their pay during the year. All filers who are eligible to claim the federal EITC are automatically eligible for the state EITC. Louisiana’s first state EIC takes effect in tax year 2008, and can be claimed on state income tax returns this spring. The state credit is equal to 3.5% of the federal credit. This will result in an additional refund of up to $168 for eligible Louisiana tax filers.
Volunteer Income Tax Assistance (VITA) sites throughout Louisiana provide FREE tax help to low-and moderate-income taxpayers to determine eligibility and to file the claim for the credit. There are over 170 free income tax assistance services located throughout the state. To find the site nearest you, call the Louisiana Department of Social Services toll free number, 1-888-LA-HELP-U (1-888-524-3578), between now and April 15, 2009. This information can also be obtained by calling 2-1-1.
For additional information on filing your state income tax return, visit the Louisiana Department of Revenue.
