LABI Boss Says “We’re Trying to Make Chicken Salad out of You Know What”
Lawmakers have 2 weeks to fix the budget mess. The 6th special session we've held in 2 years will focus on ways to bring in more money to balance the budget. Stephen Waguespack with the Louisiana Association of Business and industry says the Governor should stop creating a panic by talking about cuts that he knows lawmakers won't let happen.
Waguespack says the reality is sales tax is very much likely where they are going to go to fix the budget because this brings in a regular flow of money and brings it in immediately. He does recommend making this sales tax temporary with the plan of holding a constitutional convention to fix our tax structure for the long term.
The special session begins today and must end on June 4th. Lawmakers have spent the past two years filling budget holes and looking at doomsday scenarios.
The state faces a $648 million fiscal cliff on July 1st when $1.4 billion in temporary taxes fall off the books.