Louisiana is facing an unprecedented economic crisis, and we all need to do our part. But instead of looking out for front-line workers and their families, the Legislature is proposing more than $1 billion in new tax breaks for corporations. These tax breaks would come at the expense of students, families and workers who need Louisiana’s help now more than ever.
On Monday the House Ways and Means Committee will consider three resolutions – House Concurrent Resolutions 43, 65 and 66 – that would give away more than $1 billion, much of it to the state’s most profitable corporations.
Unlike the federal government, Louisiana is required to balance its budget. The state can only spend the revenue that we agree to raise through taxes. Even without these new tax breaks, the job of balancing next year’s budget will be extremely tough, as the economic downturn has sharply reduced the revenue Louisiana gets from sales taxes, oil production, gambling and other sources.
The equation is simple: Our critical investments in education and training, healthcare, public safety and other priorities are already threatened by a budget crisis, and these new corporate tax breaks would make it worse.
And time is of the essence. The committee meets tomorrow morning (Monday) at 9 a.m. Your legislators need to hear from you about our state’s priorities. Please read below for details about the resolutions, and how to contact the committee members:
Total cost: -$412.6 million
House Concurrent Resolution 65 (Rep. Stuart Bishop): Suspends severance taxes on oil and gas production until August 2021
Total cost: -$693.8 million
The emails for the House Ways and Means Committee are below:
The Legislature’s first priority should be to help those who’ve been hurt most by this pandemic – not the state’s largest corporations. Please join us in calling on the House Ways and Means Committee to reject these ill-considered giveaways.