Louisiana has the fourth-highest rate of income inequality in the United States, as income gains over the past 35 years have accrued mainly to the wealthy while families in the middle and bottom of the income ladder have stagnated or lost ground.
The recommendations from the Task Force on Structural Changes in Budget and Tax Policy are a solid starting point for creating a 21st Century tax system that puts Louisiana’s budget on a more stable and sustainable course.
The state board that oversees billions of dollars in property tax breaks for manufacturers approved new rules Friday that are designed to implement a pair of executive orders from Gov. John Bel Edwards.
State government spent $313 million more than it took in from tax collections in the 2015-16 budget year, which means Gov. John Bel Edwards and the Legislature will have to make up the difference in the current-year spending cycle.