BATON ROUGE – In a press conference Tuesday, Governor Jeff Landry announced a new tax reform to “Move Louisiana Forward” and put the state on par with its neighbors. Landry said the state’s “failing tax system” is the cause of its low ranking in economic growth and development, but the movement is designed to modernize its tax structure and compete with the rest of the South. The new tax plan, which Landry said will be discussed in November when he plans to call the legislation into session, will lower and, in some cases, eliminate state income tax. The state will make up for those lost funds by redistributing those taxes among “luxury goods,” which Landry said included things like car washes, dog grooming, and home repair. ”We’re moving from taxing your labor to your choices,” Landry said. Additionally, Landry said tax exemptions would be broadened to include some prescription drugs as a way to support senior citizens. If the new plan is approved in the legislature, it will be up for voter approval in spring. Permalink| Comments
BATON ROUGE – In a press conference Tuesday, Governor Jeff Landry announced a new tax reform to “Move Louisiana Forward” and put the state on par with its neighbors.
Landry said the state’s “failing tax system” is the cause of its low ranking in economic growth and development, but the movement is designed to modernize its tax structure and compete with the rest of the South.
The new tax plan, which Landry said will be discussed in November when he plans to call the legislation into session, will lower and, in some cases, eliminate state income tax.
The state will make up for those lost funds by redistributing those taxes among “luxury goods,” which Landry said included things like car washes, dog grooming, and home repair.
“We’re moving from taxing your labor to your choices,” Landry said.
Additionally, Landry said tax exemptions would be broadened to include some prescription drugs as a way to support senior citizens.
If the new plan is approved in the legislature, it will be up for voter approval in spring.