State’s Credit Outlook Improves to ‘Stable’ [VIDEO]
Louisiana's Commissioner of Administration Jay Dardenne talks with 101.7 / 710 KEEL's Robert J Wright about the move by Moody's Investor Service upgrading the state's credit outlook from negative to stable.
Dardenne tells KEEL listeners that is is primarily the new, seven year, 4.45% sales tax that was the major determining factor in the Moody's decision.
Referring to the Moody's move, Governor John Bel Edwards emphasized a bipartisan effort to solve the states budget woes, saying the upgrade "validates what we've been saying about the need for budget stability." Edwards continued, "Thanks to the bipartisan compromise achieved during the last special legislative session, Louisiana is no longer on the negative watch list. By working together, for the first time ina long time, Louisiana's budget will have the kind of stability and predictability we need to bring new business opportunities to our state and grow our economy."