Tax Breaks In Louisiana Are Getting A Rework
Billions of dollars are on being discussed by a new panel in the state budget offices to examine whether or not certain Louisiana tax breaks should continue to be allowed as we face rounds of budget cuts.
The panel is made up of 14 people who are legislative leaders in their respective field. After meeting for the first time yesterday, the group was given a crash course on the tax breaks currently in existence and what they do to the state financially.
The review commission is learning about this list of exemptions, along with rebates and credits that takes money from the state treasury every year.
They group is attempting to reduce or completely eliminate tax breaks that are labeled as “low-performing or antiquated.”
February 1st is the deadline for the suggestions.
The idea for this new program is that instead of budget cuts that have been taking away money from public colleges and/or health care services for years, to finally begin allowing for that money to stay in the pockets of those groups.