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.