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The Breakdown: Gov. Landry hopes to swap income tax for sales tax in special session

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www.youtube.com – WWLTV – 2024-11-07 22:13:33

SUMMARY: Lawmakers are convening in Baton Rouge for a special session aimed at modernizing Louisiana’s tax code, which has remained unchanged since 1974. Governor Jeff Landry proposed a package of 20 interrelated bills that seeks to lower the personal income tax to a flat 3%, reduce the corporate income tax, eliminate the corporate Franchise Tax, double exemptions for retirees, and provide a $2,000 pay raise for teachers. To fund these changes, Landry plans to broaden the sales tax base by extending it to business utilities and some services. Concerns about a potential funding gap and the rush of the session have been raised. The session ends on November 25th.

In your Breakdown, lawmakers are in Baton Rouge this week for a special session to modernize Louisiana’s tax code.

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News from the South - Louisiana News Feed

Survive and Advance (Part 2)

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www.youtube.com – KTVE – 2024-11-22 22:46:05

SUMMARY: On this week’s Football Friday Night, General North Iberville hosted General TR, suffering a lengthy delay due to a player injury. General TR dominated the game, winning 38-6 with Ammani Williams scoring a touchdown. In other notable scores, Hainesville beat Montgomery 61-0 and the Mango Dragons triumphed over West St. John 44-6. In Division Three, Newman defeated Darbon Woods 49-19. The OCS Eagles won 28-6 against Catholic PC in Division Four. Meanwhile, St. Fred faced Southern Lab, with St. Fred’s season ending in a 24-7 loss. Next week, the playoffs continue with more exciting matchups.

Round Two of LHSAA Playoffs live up to hype

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Warmer this weekend, then cooler next week

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www.youtube.com – WDSU News – 2024-11-22 18:26:52

SUMMARY: The weather in Southeast Louisiana is currently sunny with warm temperatures, thanks to high pressure bringing dry air from the northwest. Overnight temperatures will drop into the 30s and 40s, with highs tomorrow reaching the mid-60s, warming to 80°F by Monday. A cold front will bring cooler temperatures after Monday, with highs in the 70s through Thursday. Thanksgiving Day may see a 40% chance of rain due to another cold front. Tropical activity is quiet, with no expected storms. Overall, the forecast includes mostly sunny to partly cloudy days with slim rain chances.

Warmer this weekend, then cooler next week

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Lawmakers wrap special session, send tax reform bills to Landy’s desk | Louisiana

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www.thecentersquare.com – By Nolan McKendry | The Center Square – 2024-11-22 15:21:00

SUMMARY: The Louisiana Legislature has approved a significant tax package that revamps the state’s tax system, introducing major income tax cuts alongside higher sales taxes and the elimination of numerous tax breaks to balance the budget. Key changes include reducing income tax by $1.3 billion per year and raising sales tax from 4.45% to 5%, effective January 2025. The corporate tax rate will also drop from 7.5% to 5.5%. While Democrats raised concerns about shifting tax burdens, proponents argue these reforms will enhance Louisiana’s economic appeal. The package now awaits Governor Landry’s approval, with promises to ensure funding for key infrastructure projects.

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The post Lawmakers wrap special session, send tax reform bills to Landy’s desk | Louisiana appeared first on www.thecentersquare.com

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