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Louisiana State Treasurer John Kennedy

Treasurer Kennedy: Governor asks for and gets largest tax increase and second largest budget in Louisiana’s history

June 29, 2016

John Kennedy, Louisiana State Treasurer

BATON ROUGE – The new state budget that takes effect Friday is the second largest budget in Louisiana history and contains the largest amount of tax increases ever, according to State Treasurer John Kennedy.

“Over the course of 365 days, the Louisiana Legislature raised $2.4 billion in taxes and fees,” said Treasurer Kennedy. “I don’t need to remind Louisianians that these tax increases arrive during an especially weak economy. The oil and gas industry is in a depression, and north Louisiana is still reeling from devastating floods. We also have the third highest unemployment rate in America.”

State spending in Louisiana’s operating budget that takes effect on Friday has increased 31% since 2010. The most recent U.S. Census Bureau data ranks Louisiana as No. 1 in the South for state and local spending per capita.

“Louisiana is in a league of its own now, and not in a good way,” said Treasurer Kennedy. “We cannot tax ourselves into prosperity. History will prove this point as more businesses fold and more families suffer. I’ve said it before, and I’ll say it again. We have a spending problem.”

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Editorial

FIRST PERSON: As goes the family, so goes the culture

By Gene Mills, Louisiana Family Forum president BATON ROUGE, La. (LBM) – Public policy matters, especially regarding the health and growth of families, the basic building block of any flourishing society. As we have seen throughout history, as goes the family, so goes the culture. Unfortunately, for too long … Read More

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