Industrial Tax Exemption Program
December 6, 2018
A worker in Louisiana earning the minimum wage would have to work 76 hours per week to afford a one-bedroom rental home, according to a new report from the National Low Income Housing Coalition. Louisiana does not have a state minimum wage and relies on the federal minimum wage of $7.25 per hour. The federal minimum wage has not increased since 2009 and has lost 12.9 percent of its purchasing power since that time. The report also paints a grim picture for affordable housing across the nation.
Number of the Day
$717 - Monthly “fair market” rent for a 1-bedroom apartment in Louisiana. A worker would need to make $14.07 per hour to make that affordable - which would require 76 hours per week of work at the $7.25 federal minimum wage (Source: National Low Income Housing Coalition)November 14, 2018
Ever since Gov. John Bel Edwards gave local authorities more control over industrial property tax breaks, the big question has been how that power should be used. Should school boards, city councils and local sheriffs issue a blank check to manufacturers?
Number of the Day
4.3 - Louisiana’s percent change in real GDP for the second quarter of this year. (Source: Bureau of Economic Analysis)November 13, 2018
Homeowners, non-manufacturing businesses and ordinary citizens are the big losers when local and state government give away billions of dollars in property tax breaks for large petrochemical plants. That’s the argument from former Baton Rouge Councilman Ryan Heck, a Republican, who outlined his views about the Industrial Tax Exemption Program in an essay for the far-right blog The Hayride.
Number of the Day
21 - Percentage of Americans that have no money saved for retirement (Source: Northwestern Mutual)August 30, 2018
A state panel granted ExxonMobil Corp. a 10-year partial exemption on property taxes for a proposed expansion of its Baton Rouge operations that would create up to 60 new permanent jobs.