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Treasurer skeptical of Jindal's tax plan analysis
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| Contributor | Brandonius Maximus |
| Last Edited | Brandonius Maximus Apr 03, 2013 09:23am |
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| Category | News |
| Author | Adam Duvernay |
| News Date | Wednesday, April 3, 2013 03:00:00 PM UTC0:0 |
| Description | More time, better calculations and a public vote must be considered before pushing through tax reform, Louisiana Treasurer John Kennedy said.
“I think we’re moving too fast, and I have grave doubts about whether we’re moving in the right direction on the credit side of the ledger,” Kennedy said Tuesday during an editorial board meeting with The Times. “I’d love to get rid of the income tax. I think the governor is absolutely right that it does put us somewhat at a competitive disadvantage. There’s some ways to do that (that) I think will work better than his plan. But he wants to do it through sales tax. So far, they’re not being very persuasive in terms of how to do it with sales tax.”
Kennedy has been an outspoken critic of Gov. Bobby Jindal’s proposal to eliminate the state’s income and corporate franchise taxes.
The governor’s office claims revenue neutrality through the proposed changes, expecting to recoup about $3.6 billion lost in income taxes by raising sales taxes, charging tax on previously untaxed services, boosting tobacco taxes and removing dozens of tax breaks.
Louisiana’s current sales tax rate is 4 percent and can reach as high as 11 percent in certain municipalities. Jindal wants to increase the state rate to 6.25 percent. |
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