
Introducing Governor Landry’s Plan To Overcome a ‘Crisis’
This past Tuesday Jeff Landry (R), Governor of Louisiana, laid out his plan to reform the state's tax system.
Gov. Landry announced that he will call the state legislature into session sometime in November to implement the Louisiana Forward Plan which he claims will "solve the fiscal crisis." Landry claims this plan "will produce more jobs, a greater prosperity, lower our taxes, and bring us a sustainable budget."
Plans to Cut Income Tax
Louisiana may be looking to follow in the footsteps of nearby states like Mississippi and Georgia which have already cut or are working to eliminate state income taxes. Gov. Landry seems keen on doing so, even stating his belief that the state is on "the road to reducing or eliminating the income tax." Other Republican-led states like Texas and Florida have already reduced or removed their individual income tax.
To recoup tax revenue that would be lost by a reduction or elimination of the state's income tax, Gov. Landry looks to expand sales tax to include other items that are currently exempt. "So your taxation will be driven by more about what you choose to buy, I think that's fair. I hate the income tax," said Landry, "A man and woman's labor should never be owned by the government."
The People are The Priority
Gov. Landry emphasized the impact this reform would have on the regular taxpayer, stating that if passed the plan would "provide an immediate increase in take-home pay for every Louisiana taxpayer."
"By cutting income tax rates, we're making Louisiana a more competitive place to live and work." - Governor Landry
While no details are explicit yet, changes to the tax system could include a repeal of the corporate income tax and the elimination of prescription drug taxes.