Revenue-Raising Plans for Louisiana: Who Pays?
reportThe state of Louisiana is currently facing a substantial budget shortfall. Recent estimates suggest that legislators crafting the state’s fiscal year 2001 state budget must make up almost $5401 million in revenues through budget cuts or tax increases. Among the more prominent revenue-raising solutions recently under discussion have been an extension of the state’s “temporary” 3 cent tax on the retail sale of food and utilities and an increase in the state general sales tax rate from 4 percent to 5 percent.