Senate Finance Committee Weighs Tax Cuts, State Spending Ahead of Wednesday Meeting

Jun 23, 2020

With less than a week left in the special session, the Senate Finance Committee is to vote on the state operating budget for the upcoming fiscal year. 

They’re expected to amend the spending plan to account for a slew of House-passed tax breaks and business incentives aimed at stimulating the struggling economy.

 Cuts for casinos, oil and gas producers-- businesses large and small-- and all in the name of coronavirus relief. Together they would take hundreds of millions of dollars out of state revenue projections. Gov. John Bel Edwards and Democratic state lawmakers accuse the GOP of nickel-and-diming the state back into fiscal instability. Republicans on the Finance Committee started chipping away at some of the bigger tax breaks on Monday, but they’ll also have to cut funding for state agencies to make ends meet. We’ll get a clearer idea of what those cuts will look like when the committee meets this afternoon at 1:00.