By the numbers: Louisiana has netted approximately $3.56 billion in state revenue so far for the 2016-2017 fiscal year, a 27% increase compared to the same period last year, according to the latest report from Treasurer John Kennedy. State revenue grew by $697 million between October and November, Kennedy says, as general sales tax collections grew, gasoline and special fuels tax collections continued to show stability and miscellaneous tax collections increased. The report includes receipts for sales tax, individual income tax, general severance tax, corporation and franchise tax, gasoline and special fuels tax and miscellaneous taxes cash receipts. The report does not include gambling revenues, fees, self-generated revenue and statutory dedications. Read the full report.
Hello: Airlines could let passengers make in-flight phone calls using Wi-Fi under a proposal from federal regulators, The Associated Press reports. The Department of Transportation said Thursday that it has envisioned allowing in-flight calls if airlines tell all customers about the policy when they buy their tickets. That way, customers could make other travel arrangements if they feared sitting next to passengers chatting on their phones. Currently, the Federal Communications Commission prohibits passengers from making cellphone calls during flights, but not Wi-Fi calls. There is a 60-day comment period, and the proposal leaves the door open to the possibility that federal officials could still impose an outright ban. Read the full story.
Not enough: The Organization of Petroleum Exporting Countries is likely to bring the oil market into balance by the middle of next year, but its production cut looks set to fall short of its stated goal of draining the stockpiles that are depressing prices, Bloomberg reports. Calculations by Bloomberg based on OPEC data show there will be little overall reduction in record oil inventories next year, even if the group convinces non-members to join supply curbs at a meeting on Saturday. “Even with 100 percent compliance from both OPEC and non-OPEC producers global stocks are unlikely to fall in the first half of 2017,” says Tamas Varga, analyst at brokerage PVM Oil Associates Ltd. in London. “That should keep oil prices in check.” Read the full story.
