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For these state programs and services, Louisiana's fiscal cliff is getting closer
Source:
nola.com
- Jun 11, 2018
The Louisiana Legislature will make its third attempt at avoiding dramatic state budget cuts next week when it enters yet another special session. This time though, what's at stake won't be as abstract as it has been in the past.
Lawmakers have already approved a budget plan for the fiscal year that starts July 1, so they have little choice about where cuts will be felt if they don't raise enough revenue to fully fund the spending plan. Louisiana faces a budget crisis, mostly because the state's sales tax rate will drop from 5 percent to 4 percent after June 30. The approved budget was designed assuming lawmakers would agree to a 4.5 percent state sales tax rate, but Republican leaders in the House of Representatives have wanted a 4.33 percent tax rate.
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Category: General Business
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