Louisiana has $2.8 billion in one-time funds in unspent federal aid and in state surplus funds that needs to be utilized for one-time needs.
The investments proposed are $500 million to construct a new Mississippi River bridge in Baton Rouge; $559 million to upgrade sewer and water systems statewide; $450 million to pay off state debts to FEMA; $550 million to replenish the trust fund that pays jobless claims; $100 million to build a new Interstate 10 bridge in Lake Charles; and millions more for other projects.
Some $1.4 billion is leftover from Louisiana’s share of the American Rescue Plan law. The state also has $700 million from better-than-expected tax collections for the fiscal year that ended June 30; a quarter of that must go to the state’s “rainy day” fund and 10% to pay down state retirement debt. Continue reading here.
Tim Temple – President of C100
The Advocate | May 12, 2022 – 2:00pm