Scary Movies− Louisiana’s 2011 Budget
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Budget & Taxes
Christmas Cancelled for LA Healthcare, Higher Education
Three days before Christmas, Governor Jindal issued an executive order instructing agency heads to implement an across-the-board reduction of $247.9 million, including $108 million from the Department of Health and Hospitals, $84 million from Higher Education and $14 million from the Department of Social Services.
These cuts come at a time when many department budgets, particularly those in human services and higher education, have already experienced significant reductions. The Louisiana Budget Project notes that the magnitude of Louisiana’s fiscal crisis requires a more balanced approach to solving what is, in reality, a revenue crisis.
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Deficit Demands New Look at Taxes
LBP Director, Edward Ashworth was featured in the New Orleans Times Picayune op ed section on Thursday November 26, 2009. In the article, Mr. Ashworth argues that the state needs to take a more balanced approach to solve its estimated $2 billion budget shortfall. Rather than relying exclusively on spending cuts, the state needs to consider new sources of revenue.
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Louisiana Taxes Hit Poor and Middle Class Far Harder Than the Wealthy
Low‐ and middle‐income families in Louisiana pay a far higher share of their income in state and local taxes than do the richest families in Louisiana, according to a new national study by the Washington DC‐based Institute on Taxation & Economic Policy (ITEP).
The main reason for the unfairness of Louisiana taxes is the state’s reliance on sales and excise taxes, which fall disproportionately on the most vulnerable families, and the state’s reliance on property taxes. Because lower income households tend to spend a higher percentage of their income on purchases, they end up paying a higher share of their income in taxes too. The exception is the state income tax, where rates rise with income. It’s the only tax based on the ability to pay, but Louisiana doesn’t rely on its income tax enough to make up for the impact of the other taxes on low‐ and middle‐income households.
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Eliminating State Income Tax
Several bills introduced in the current regular legislative session would eliminate Louisiana’s state income tax, without mandating any replacement revenues. Adoption of any of these measures would be detrimental to the state’s future.
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