By Jeremy Alford – December 1, 2020
Anyone following the early stages of the 2021 regular session is no doubt aware that the policymaking gathering will be a fiscal session. The tax chatter is loud and unmistakable and the ideas lawmakers have to influence state revenue are varied.
During an online forum hosted prior to the Thanksgiving break by the Pelican Institute and led by John Kay, the group’s vice president for advocacy, a trio of conservative representatives spoke openly about their desire to repeal personal and corporate income taxes.
Reps. Richard Nelson and Thomas Pressly noted such a move would make the state more competitive for attracting business while empowering local governments to step up their game on property taxes. Rep. Mark Wright, who’s one class ahead of Nelson and Pressly, did spend some time explaining just how difficult that would be, which his colleagues recognize as well.
Revenue and Fiscal Affairs Chairman Bret Allain is likewise “pushing for a major reform of Louisiana’s taxation system, including a cut in personal income tax rates,” according to a story in the Franklin Banner-Tribune.
“I never thought I’d be a tax nerd,” Allain told his hometown paper. “I have to be one because of my position.”
Some of the chairman’s plans include a cut in the top personal income tax rate from 6 percent to 3% to … Continue Reading Full Story