Senate Approves Sales Tax Hike
The Louisiana State Senate had a busy Sunday and when the dust cleared, they had approved two measures that they say will generate revenue for the 2016 budget.
For starters, the Senate tax committee (just typing the name of the committee makes me break out in chills) has approved a penny increase in our sales tax. They also adjusted the schedule for the time businesses are expected to turn over the collected sales tax.
The House had recommended that the tax hike expire in 18 months, but the Senate changed that expiration date to 5 years. that's a pretty big difference, isn't it?
The Senate also accused the House of not doing enough to address the state's budget shortfall. maybe we'll see some good fights between the two houses like we've seen in the Republican debates. that could be interesting.
Even with those tax hikes, the state budget will still be short to the tune of between $150 million and $200 million. that budget shortfall is causing ripples all over the state with just about every aspect of our lives being affected.