temporary penny

January 8, 2018

The tax bill and the fiscal cliff

While the tax overhaul signed into law by President Donald Trump last month will drain at least $1.5 billion in federal revenues over the next decade, it will have the opposite effect in Louisiana, thanks to an unorthodox tax deduction embedded in the state constitution.

Number of the Day

September 18, 2017

The politics of the fiscal cliff

Louisiana faces a $1.5 billion gap between revenues and expenses in the state fiscal year that starts July 1, mainly due to temporary taxes that are expiring. While some officials are optimistic that a deal can come together on taxes by early next year, others say the philosophical gulf separating Gov. John Bel Edwards from hard-line conservatives in the House is far from bridged.

Number of the Day

$7.3 billion - Amount of federal Medicaid funding Louisiana would lose in 2027 under a health care repeal bill sponsored by Sen. Bill Cassidy (Source: Center on Budget and Policy Priorities)