As Louisiana lawmakers continue to debate how to solve the so-called “Fiscal Cliff” (to get up to speed on all the facts, be sure to check out our Citizen’s Guide to the Fiscal Cliff!), the threat of a February special legislative session looms large. Proponents of tax increases are pushing hard for this session, and taxpayers…
It is widely expected that tax reform will be the Jindal administration’s primary goal in the 2013 Louisiana legislative session. In a recent Advocate report, Tim Barfield from the Department of Revenue addressed the need for reform, pointing out that it is the “sticker price” and not the actual tax burden that is hampering “Louisiana’s efforts to attract businesses.”
Although food stamp participation rates typically increase during a recession, a new study demonstrates that the rate of growth between 2008 and 2012 is unique.
Unemployment remains a major concern throughout the state of Louisiana and the nation as a whole. While the jobs situation in Louisiana is somewhat better than the national average, the unemployment rate for working-age teens (16-19) is astronomical and bodes ill for the future of Louisiana’s youth.
Potential conflicts and a growing interest in hedge funds have some eyeing Louisiana’s public retirement systems with renewed skepticism.
The complex nature of the retirement system tends to obscure the importance of pension reform. This has contributed to an unfortunate lack of urgency over the years. But while the details can appear daunting, the crux of the matter is simple: Louisiana has promised its retirees more than it can deliver.
By building on existing research from the Louisiana Sentencing Commission and following key principles that have guided successful reforms in Texas and other states, Louisiana policymakers can take the next steps to enhance public safety in the state and control costs borne by taxpayers.
Gov. Bobby Jindal’s proposals to boost employee contributions, alter benefit calculations and increase the official retirement age will soon undergo substantive changes during floor debate in the Upper Chamber.
Critics of Governor Jindal’s proposed “cash balance” pension plan for state employees have made a number of inaccurate claims. The current retirement systems have amassed an astonishing $18.9 billion in unfunded liabilities, but reform opponents defend the status quo with scare tactics while relying on a flawed report from the Legislative Auditor.
The top 10 things you need to know heading into Louisiana’s historic retirement debates. By JEREMY ALFORD Know this: the stakes are high. More than 60,000 state employees would be affected by Gov. Bobby Jindal’s proposed pension changes. And legislators, many still reeling from the drama associated with the governor’s landmark education reforms, are wondering…