tax reform

Louisiana lawmakers are considering a bill that would expand the state’s tax base to include about 50 more services.

As the legislature debates sweeping tax reform, in a committee meeting Monday, concerns were raised over how the changes to the state’s constitution will be worded on the March ballot.

The House Ways and Means Committee took steps Sunday toward achieving the governor’s tax overhaul by advancing a bill to cut the corporate income tax rate, now one of the highest in the nation, in stages from 7.5% to 3.5%.

A House tax committee voted Thursday to advance Gov. Jeff Landry’s proposal for a flat 3% personal income tax rate.

The special session on tax reform is underway at the State Capitol and Gov. Jeff Landry is encouraging lawmakers to pass all his bills to revise the state’s tax code. Landry’s proposal will reduce individual and corporate income taxes while expanding sales tax to more goods and services.

Louisiana Gov. Jeff Landry has called the Legislature into a special session to make a deal on tax reform, according to a proclamation issued Saturday.

“Just about everyone is going to get a cut,” said Steven Procopio, president of the Public Affairs Research Council for Louisiana (PAR). “And the vast majority of people will see fairly large cuts.”

The loss of revenue would worsen the state’s budget problems.