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New LBP report: Pensions in the Parishes 2017

Altogether, Louisiana’s pension systems pay out more than $4 billion in benefits to 164,000 retirees and their families every year—an amount equivalent to 2 percent of all personal income in the state.

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Reduced funding, low salaries put state’s most vulnerable children at risk

The department’s staffing has been reduced by more than 2,500 since 2008 - and many of those who are left have gone years without a pay raise. The average annual salary at the department is $44,349. That’s $5,317 less than the average DCFS salary in FY 2008 when accounting for inflation.

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Most would get tax cut under Gov. John Bel Edwards’ tax plan

The governor’s tax plan is not perfect. But if all the elements are taken together, it would take a step toward making Louisiana’s broken tax system more fair and adequate.

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The Daily Dime

Looking for leverage in the ongoing debate over Louisiana’s budget shortfall and the impending fiscal cliff, a bloc of Louisiana’s Democrats struck down a construction financing bill, which requires a two-thirds vote in order to pass.

Number of the Day

23 million - Number of people who would lose health insurance coverage if the House-passed AHCA becomes law. (Source: Congressional Budget Office)

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Our Two Cents Blog

A dubious “rural jobs” tax break

Posted on May 22, 2017

The Louisiana Rural Jobs Act Tax Credit Program proposed by House Bill 641 is intended to provide an economic boost to rural areas of the state. Unfortunately, the program would likely benefit a few well-connected financial firms more than Louisiana’s rural communities. It would come at a $90 million cost to the state – money Louisiana can’t afford to spend at a time when healthcare services, college scholarships and other important needs are underfunded.  

Similar tax credit programs have been implemented in 20 states over the last three decades, and there is extensive evidence that they do not live up to promises made by their supporters. The state would be better served by direct investments in rural schools, infrastructure upgrades and workforce training. Read more

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