Comprehensive, statewide tax reform would improve the state’s business climate and, long-term, its economy. But residents of Louisiana would likely not feel the benefits of such reform any time soon, LSU economist Jim Richardson told members of the Louisiana Committee of 100 for Economic Development, a group of top business leaders from around the state, who gathered in Baton Rouge today for their annual conference.
“Tax reform is part of a system and it helps create stability, which is important,” Richardson said, in response to a question from New Orleans developer Pres Kabacoff about the economic benefits of fiscal reform. “But it isn’t a one-year payback. It’s a 25- or 30-year payback, and that makes the sell job very hard.”
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