There comes a time, in most legislative sessions, when things appear on the verge of a complete breakdown.
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$4.6 million - Projected revenue gain from House Bill 501, which would eliminate several state income tax deductions and replace the current three-bracket structure with a 3.95 percent flat tax on income above $12,500. (Source: Legislative Fiscal Office)
Altogether, Louisiana’s pension systems pay out more than $4 billion in benefits to 164,000 retirees and their families every year—an amount equivalent to 2 percent of all personal income in the state.
