System overhaul: Lawmakers are beginning discussions about reforming Louisiana’s tax system. The House Ways and Means Committee’s first meeting is today to go over broad reforms to the tax system, including the possible elimination of a personal income tax. The committee plans to continue meetings over the next several months to prepare legislation for the 2023 legislative session. Read more about the process from WAFB-TV.
Unmet expectations: Stocks are tumbling this morning as Wall Street comes to the realization that inflation isn’t slowing as much as it had hoped. The S&P 500 sank 2.1% in early trading, after rising for four straight days. Bond prices also fell sharply, sending their yields higher, after a report showed inflation came in at 8.3% in August, instead of the 8.1% economists expected. The hotter-than-expected reading likely means the Federal Reserve will ultimately have to raise rates higher to combat inflation. Read more.
Road snarls: Drivers were stuck bumper-to-bumper for hours before and after the LSU-Southern University game and LSU is trying to fix the problem going forward. LSU athletics spokesperson Cody Worsham says some of the problems had to do with the historic turnout Saturday. Read the full story from WBRZ-TV.
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