Margin for error: Since revenue prediction is far from an exact science, CABL recommends that lawmakers allow themselves some leeway in the revenue estimates they rely upon during the tax reform debate. The council also urges them to consider developing a mechanism to make adjustments in case increases in sales tax revenue don’t make up for the loss of income taxes. Read the full commentary here. You can read a recent PAR report on tax reform here; and check out the Jindal administration’s response to the PAR report here.
Pointing fingers: Lawyers for individuals and businesses suing over the 2010 Gulf of Mexico oil spill say Halliburton’s delay in turning over key evidence in the ongoing civil trial shows the same recklessness that helped cause the disaster. For nearly three years, Halliburton failed to hand over cement samples that may have been used with the well that blew out, spewing nearly 5 million barrels, according to government estimates that well owner BP disputes. The lawyers for the Plaintiffs Steering Committee say in a filing today in a New Orleans federal court that the cement contractor’s conduct is part of “an effort by upper management to ratify and conceal Halliburton’s pre-blowout callous disregard for safety.” The Houston Chronicle has the full story here.
