Budget Reform Has to Be a Top Priority in Louisiana
Budget reform should be a top priority in Louisiana. That's the message from Daniel Erspamer with the Pelican Institute.
He says our leaders need to do more to find permanent solutions to our budget mess. He says the biggest problem is that 89% of all the money we send to the state is dedicated. That means lawmakers only have the opportunity to make decisions about 11% of the money that flows into state cofferes. He says we have to remove many of the restrictions on how the money is spent. He says many of these dedications are unneccesary and only the top priority items should be protected. He would include on that list our schools and roads.
Erspamer also talks about fantasy sports betting and expansion of gambling in Arkansas and the impact that will have on Louisiana.
He also says Louisiana needs to improve revenue forecasting in both the short and long-term to prevent the state from becoming subject to short-term revenue swings and encourage more responsible long-term planning.