Louisiana State Senators Beginning Tax Break Review Monday
BATON ROUGE, La. (AP) — Looking for ways to lessen spending on tax breaks, state senators are planning a wide-ranging review of the tax exemptions, exclusions, rebates and refunds Louisiana gives to individuals and businesses.
The Senate Revenue and Fiscal Affairs Committee starts combing through the list Monday, trying to determine the costs and benefits of each tax break. Weeks of similar meetings are expected.
Chairman J.P. Morrell, a New Orleans Democrat, says he wants to give the public an opportunity to explain the benefits they receive from tax breaks and share ideas on what they think should be changed.
Louisiana has more than 400 tax breaks on the books, estimated to cost the state more than $8 billion a year. Lawmakers are hoping to lessen some of the spending to help close budget gaps.