Economic Opportunity
The threat of hospital closures, nursing home evictions and cuts to higher education has made it inevitable that the Legislature will soon convene for another special session devoted to revenue-raising. It’s become equally clear that the special session will be focused on a partial renewal of the temporary “clean penny” of sales tax.… Read more...
The House Commerce Committee on Wednesday rejected a push by the national payday lending industry to expand its Louisiana operations and make the debt trap deeper and longer for vulnerable borrowers. Witnesses testified to the harms payday lending already subjects Louisiana families to, as well as the availability of much cheaper and less harmful alternatives.… Read more...
BATON ROUGE — Legislation backed by the national payday lending industry that would expand their operations in the state narrowly passed the Louisiana Senate by a vote of 20-17 on Tuesday. Predatory payday already lending drains more than $240 million each year from Louisiana workers by saddling vulnerable borrowers with high-interest loans that they often cannot afford.… Read more...