Gov. Edwards Hopes To Revamp Louisiana’s Tax System In Legislative Session
Governor John Bel Edwards is seeking to give the Louisiana tax system a facelift during the upcoming legislative session. Port Allen Senator Rick Ward supports the effort to repeal many business tax exemptions, so that large companies are paying taxes to the state, instead of getting a big refund.
“Quite a few of your very large businesses that are not paying once they take advantage of all the different exclusions and deductions, so they would end up having to pay something.”
Ward says the plan to eliminate more corporate tax breaks is a much more fair approach.
“You have a lot less winners and losers than we currently have right now.”
But Shreveport Representative Alan Seabaugh is skeptical of Governor Edwards attempt at tax reform. He’s concerned that with the state searching for more dollars, higher taxes will be proposed when legislators meet in April.
“I think we’re going to see corporate income taxes increase, we’re going to see an attempt to increase personal income taxes, we’re going to see an attempt to pass a gas tax.”
Seabaugh also says if the state cuts exemptions and credits that businesses currently benefit from, then that will hurt economic development efforts.
“Enticing businesses into Louisiana by giving them tax credits and when those businesses come here they create jobs, which is better for everybody.”