#louisianapol — Public Fediverse posts
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From 2024: #Louisiana lawmakers pass income and #corporate #TaxCuts, raising statewide #SalesTax to pay for it
By JACK BROOK
Updated 8:55 PM EST, November 22, 2024
BATON ROUGE, La. (AP) — "Louisiana’s #GOP-dominated legislature passed tax cuts on personal and corporate income on Friday in exchange for a statewide sales tax increase, giving Gov. Jeff Landry much of what he wanted after his original tax reform package faced mounting resistance from lawmakers and lobbyists."The final passage of the tax measures wrapped up a special legislative session launched Nov. 6 by the governor and his allies. They said their purpose was to make the state’s tax code more business friendly, create jobs and reverse trends of outward migration from the state. It was the third special legislative session called by Landry, a Republican, since he assumed office in January.
"Critics warned the tax reforms would primarily benefit corporate #shareholders and #wealthy taxpayers while the sales tax increase would exacerbate Louisiana’s regressive tax system where #poorer households pay a higher percentage of their income on taxes."
Read more:
https://apnews.com/article/louisiana-tax-reform-special-session-landry-95db6e608809dcdcfae5f5de8b0355d4#KillThePoor #TaxBreaksForTheRich
#TaxTheRich #PayYourFairShare #LouisianaPol #USPol #CEOs #Corporations #Millionaires #Billionaires