Louisiana has made a strong claim to the title "the state that’s caused the most self-inflicted damage through tax cuts," according to a New York Times opinion piece posted online Thursday.
Columnist David Leonhardt says while that bodes poorly for Louisiana, it also offers a lesson for the federal government, which he says is running a version of the state's economic policies.
One of the major credit ratings agencies has offered a dire assessment of the state's financial outlook, just days after lawmakers abruptly en…
Leonhardt says the blame in Louisiana lies with former Gov. Bobby Jindal, who cut income taxes while boosting corporate tax breaks.
"At first, Jindal spun a tale about how the tax cuts would lead to an economic boom — but they didn’t," the column says. "Instead, Louisiana’s state revenue plunged. The tax cuts helped the rich become richer and left the state’s middle class and poor residents with struggling schools, hospitals and other services."
Louisiana House and Senate accountants were collecting the invoices Tuesday for a special session that ended early, failed to accomplish its g…
The Louisiana Legislature recently met in special session to try to close a huge gap in the budget, but failed to agree to a solution, leaving the state's finances in limbo.
Leonhardt says President Trump's tax cuts, "skewed overwhelmingly to the rich," have put the nation on a similar path.
Because of Louisiana's experience, "we know how this story will end," he says.
This spring, Louisiana’s latest crop of graduates will enter the workforce, taking on jobs that require them to finish assignments before gett…