Daily Dime

June 25, 2020

Tax breaks for business, pay freezes for civil servants

A two-year stalemate between Gov. John Bel Edwards and state Treasurer John Schroder over control of unclaimed property funds ended Wednesday, with a deal that lets $37 million be plugged into next year’s revenue forecast. Instead of using the money to pay for things like child care services that lets struggling parents go back to work, a big chunk of it is being used to pay for millions of dollars in tax breaks for businesses.Read more...

June 24, 2020

Corporate tax handouts

The Louisiana Legislature is considering corporate tax cuts and giveaways worth hundreds of millions of dollars this special session. Several of the bills seek to expand programs that have a poor return on the state’s investment, like the Quality Jobs Program and New Market Tax Credits.Read more...

June 23, 2020

Pushing back against tax cut bills

The Louisiana Senate on Monday continued to walk back proposals by state GOP leaders and business interests to cut state revenue by expanding tax credits, rebates and incentive programs for businesses. While some lawmakers, like Finance Committee Chair Brett Allain, only want to scale down the tax breaks, others are more cautious about their cumulative effect on the state’s finances.Read more...

June 22, 2020

Poverty and the pandemic

When Covid-19 shut down large sectors of the U.S. economy, forecasters predicted a sharp increase in poverty and economic hardship. But two new studies say those fears were premature, thanks to the unprecedented amount of federal aid delivered through the CARES Act.Read more...