Louisiana legislators are diligently tending to the needs of corporations and wealthy individuals during the ongoing legislative session. Bills are moving through the Capitol that would provide new tax breaks for oil and gas companies, while other “reforms” would redirect state revenue from education, health care and other priorities to other uses. An Advocate editorial urges the Legislature to prioritize struggling families the same way.
- Rep. Matthew Willard, D-New Orleans, proposes a small bit of economic justice for essential workers. His House Bill 162 would double the existing state supplement to the federal Earned Income Tax Credit. As written, it would be costly, starting at about $67 million a year. Where would that money go? To rewarding work, as does the federal EITC, especially if the families dependent on the smallest paychecks will still be scrimping and saving most of the time.
A companion bill by Rep. Alonzo Knox, House Bill 632, would allow a $250 tax credit for children 0-5 living in families with incomes below $40,000 per year. Knox voluntarily shelved his bill on Monday after conservatives on the House Ways and Means committee complained about its cost.
Source: Louisiana Budget Project - The Daily Dime