While much of Louisiana was celebrating Lundi Gras on Monday, the states’ Revenue Estimating Conference met to offer one last revision before Governor Jindal announces his budget plan.
Reporters covering the event focused on the addition of $112 million to the current revenue forecast, and another $65 million to next year’s forecast. Any additional revenue is welcome during this fiscal crisis, but let’s face it: With a $1.6 billion deficit looming, $178 million is little more than a hoot in a hurricane.
Much more important to our budget, but almost ignored by the media, was the Revenue Estimating Conference’s report on the effect that some tax exemptions are having on state revenues.
To read more, click here and visit the Legislative FAX page on the LFT Web site.