Final Stretch of Louisiana’s Special Session

Local News
As of Thursday afternoon, it seemed like lawmakers were making progress.
 
After the house and senate closed up for the day, Louisiana’s mid-year budget gap had been trimmed down to $67 million, but the amount doubled overnight.
 
The Legislative Fiscal Office, which estimates how much each bill will raise for the state reported that the shortfall was now at $147 million.
 
House bill 54, which calls for retailers to advance their state tax payments to the state, was supposed to raise $75 million.
 
The Legislative Fiscal Office found that this bill wouldn’t any funds before the end of this fiscal year on June 30th.
 
There are talks of making changes to the approved 1 cent increase to the states sales tax to cover the gap, raising it to 1 and a half or even 2 cents.
 
A number of budget cuts were approved over the weekend.
 
The house also approved a 1 cent increase to taxes on beer, wine and liquor in the state.
 
If lawmakers solve the problem of our $900 million budget deficit for this fiscal year, there is a 2 billion dollar deficit waiting for us after June 30th.
 
 

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