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''We compete with states like Tennessee, Florida and Texas for jobs and they don't have a personal income tax, so that makes then more attractive at first blush than Louisiana,'' said Kennedy.
Listen to Louisiana Treasurer John Kennedy:
Kennedy estimates the state would lose three billion dollars a year in this tax plan and that would have to be made up primarily by raising sales taxes. He's not sure yet by how much.
Another positive would be force people who operate with cash and normally avoid income taxes to finally pay up.
''We have a big cash economy in Louisiana, people get paid in cash and they don't pay any income tax and they normally don't get caught,'' said Kennedy.
Eventually the legislature will debate the pros and cons and then vote on the matter during the Legislative session in April.
