ICYMI: A Louisiana House committee on Monday advanced several tax breaks and incentives, including one tied to a constitutional amendment voters will consider next month, The Center Square reports. HB78 by Rep. Beau Beaullieu, R- New Iberia, would create a PILOT incentive program, which is a new way to grant tax credits. Another bill that advanced was HB20, which would provide an income tax break of up to $5,000 for parents who transferred their children during the COVID-19 pandemic from a public school that didn’t have in-person learning to a private school that did, or who hired a tutor to help with online learning. Read the full story.
Layoffs: ExxonMobil is planning to shed up to 1,600 jobs in Europe, more than 10% of its European workforce, by the end of next year as it looks to cut costs, Axios reports. “The impact of COVID-19 on the demand for ExxonMobil’s products has increased the urgency of the ongoing efficiency work,” the company says. Read the full story.
Holiday shopping: Traffic in retail stores is expected to be down 22% to 25% year over year during the six key weeks of the holiday shopping season, according to retail analytics company ShopperTrak. Black Friday, the day after Thanksgiving, is still expected to be the busiest day in stores and at malls, but it’s losing clout, CNBC reports.