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Effort underway to lower income taxes in Louisiana but at a cost; here s the proposal Tyler Bridges A complicated tax swap that would eliminate a popular deduction in exchange for lowering income tax rates passed its first step when it won approval from a Louisiana Senate committee Tuesday. But it still has a long road to travel before it can become law, which would ultimately require a vote by the people. Senate Bill 159, approved by the Senate Revenue & Fiscal Affairs Committee, is part of a package of bills sought by the legislative leadership that would no longer allow individuals and corporations to subtract their federal income tax payments on their state income tax returns. In exchange, individuals and corporations would be assessed lower tax rates.

United statesNew orleansBaton rougeJan mollerDonald trumpStuart bishopNeil riserNeil abramsonRobert travis scottBret allainDaniel erspamerJohn bel edwardsPublic affairs research council of louisianaLouisiana senateRevenue fiscal affairs committeePelican institute for public