From higher education and health care to tax credits and pension funds, a new guide to the state’s budget crisis was released today by the Public Affairs Research Council of Louisiana. The comprehensive guide examines the current fiscal condition of the state, explaining how the state got into a situation in which it faces a $1.6 billion budget hole in the coming fiscal year, and how it may address the crisis in the legislative session that begins Monday.
“It serves as an educational primer on state budgeting, and it investigates the familiar as well as the obscure but critical elements of state taxing and spending,” PAR says of the guide.
The guide also includes a series of in-depth sections on topics such as state pension systems, which PAR says “shows that this is not some future crisis in waiting, but is already having a substantial impact on the budget.”
Also, a section reviewing dedicated funding “demonstrates that while fixes can be made, change is not as straight forward as some might think.”
PAR’s analysis of the state’s many tax exemptions, including a special section devoted to tax on inventory, is also included in the guide.
“This report is designed to serve citizens as an owner’s manual to the budget,” says PAR President Robert Scott in a prepared release. “The $1.6 billion budget shortfall has rightfully caused a great deal of concern and interest. This will help people navigate the often complex fiscal waters. Our hope is that readers will come away with a different, more informed perspective on the budget issues facing the state.”
