Gov. Jeff Landry and his new secretary at Louisiana Economic Development are revamping the agency with the aim of promoting more investment in the state.
Gov. Jeff Landry and his new secretary at Louisiana Economic Development are revamping the agency with the aim of promoting more investment in the state.
The House Ways and Means Committee approves legislation that would eliminate the ability to Louisiana taxpayers to deduct taxes paid to the federal government on their state tax returns, but individual income tax rates would drop. House Ways and Means Chairman Stuart Bishop is the author.
“Is this going to fix all of the problems of the tax system in the state of Louisiana, in all honesty, no it’s not, but it’s a step in the right direction,” said Bishop.
Public Affairs Research Council President Robert Travis Scott says there have been studies and non-partisan groups who have suggested for years that Louisiana should eliminate the federal tax deduction and lower the income tax rate.