In the upcoming special session, the administration of Gov. John Bel Edwards is proposing four immediate solutions to the revenue shortfall in this year’s budget, currently estimated to be $750 million. That number could actually grow, however, when the state’s Revenue Estimating Conference meets Feb. 10 to re-evaluate the state’s revenue picture.
Proposal Estimated amount raised
Tap the state’s Rainy Day Fund $128 million
Use noncoastal money from BP $200 million
Reduce statutory dedications by 10% $160 million
Add 1 cent to state sales tax $216 million
Total: $704 million