Gov. meets with GOP delegation over LA's fiscal cliff

December 13, 2017 - 5:19 pm
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(WWL.com) -- Governor John Bel Edwards spoke with House Republicans today about the state’s looming 1.1 billion dollar plus budget deficit. Edwards told conservative lawmakers he would like to close the budget gap by using the recommendations developed by a budget and tax task force.

Governor John Bel Edwards Live in Studio!

"This task force was created by the legislature, has studied the issue for months, came back with a series of recommendations and I just think it's time we move forward with those recommendations."

A big reason for the so called “fiscal cliff” is that one penny from the state’s five-cent sales tax will expire on June 30th. Edwards says he does not support extending the fifth penny, but the state can make up for that revenue lost by removing dozens of sales tax exemptions.
 
"So that we do clean the 4 pennies we keep to the same level to the 5th penny that we created that's going to go away and that'll go a long way to helping the problem."

Edwards plans on calling a special session in February to address the fiscal cliff. The governor says it’s his goal for the legislature to approve a tax code that stabilizes the state’s budget, which would be beneficial to Louisiana’s economy.
 
"Businesses want to know what the structure is going to be in Louisiana and they can build a business plan around it but they need to know what it's going to be moving forward."

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