Blow by blow: Lawmakers on the House tax committee on Tuesday rejected a package of income tax changes pushed by Gov. John Bel Edwards that were projected to cut Louisiana taxes for most individuals by shifting a higher tax burden to businesses. The Associated Press reports the decisions made by the majority-Republican Ways and Means Committee dealt another blow to the Democratic governor’s effort to rewrite Louisiana tax laws to help end cycles of budget shortfalls and address the looming expiration of $1.3 billion in annual tax collections in mid-2018. The income tax approach shot down had been championed by a task force created by lawmakers to recommend ways to improve Louisiana’s tax structure and stabilize its finances. Read more.
Congratulations: The Louisiana Small Business Development Center has received Louisiana Economic Development’s 2017 Resource Partner of the Year award. The award was presented on May 3 at the annual Louisiana Small Business Awards ceremony. LED Secretary Don Pierson says it’s important to recognize those who work with businesses everyday and provide needed assistance in times of a disaster. Since the August flood, the LSBDC network has helped 180 businesses get started, created roughly 916 jobs and generated over $35 million in new sales for Louisiana entrepreneurs.
Twitter fingers: President Donald Trump defended his firing of FBI Director James Comey in a flurry of tweets this morning, saying that Republicans and Democrats “will be thanking me.” The Associated Press reports the president did not mention any effect the firing might have on the probe into contacts between his 2016 campaign and Russia. Instead, Trump tweeted that he’ll name a replacement “who will do a far better job, bringing back the spirit and prestige of the FBI.” Read more.
