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Leaky Tax Code: "Let's Just Fix It"

A bill that would require the House Ways and Means and Senate Revenue and Fiscal Affairs committees to get together and find fixes for the state’s tax credit system advanced Thursday.

“They will take the first bite at the apple and come out with a recommendation as to whether or not we will continue those tax credits, revise them, sunset or repeal them,” explained the bill’s author, Rep. Roy Burrell of Shreveport. “That’s a determination that will actually be made, and will be brought back to this body.”

Kenner Rep. Julie Stokes wanted more details.

“Are the deductions for excess itemized and stuff like that in here?” Stokes asked.

“Just credits,” Burrell responded.

“Credits. And is it refundable and non-refundable, transferable and non-transferable?” Stokes pressed.

“All credits,” Burrell replied.

“So why are we picking on one particular class of exemptions?”

“We have to start somewhere,” Burrell stated.

New Roads Rep. Major Thibaut said he didn’t see a need for the bill, since he viewed it as yet another attempt to “study” the problem.

“We’ve studied this time and time again. I think what taxpayers are looking for is not another

study,” Thibaut remonstrated, “but they’re looking for action.”

Monroe Rep. Jay Morris also acknowledged previous studies, making particular note of one delivered by LSU economist Dr. Jim Richardson just before the start of the session.  

“Are you familiar with Dr. Richardson’s study?” Morris asked Burrell.

“Yeah. What have we done with it?”

“We didn’t do anything with it,” said Morris, disgustedly.

Morris then asked why this should have a different result.

“How is your bill really going to have any effect, considering what we’ve already studied, and we’ve already had recommendations, and the bills on the floor? And then, people don’t vote for it.”

Burrell said the difference is that this joint committee is being required to create legislation to fix the cracked and broken tax credits that are draining off revenue.

“If we’re going to ever address the structural issues that we have in our budget, I think now is the time to do it. And I think you have the courage to do it,” Burrell encouraged. “So let’s just fix it.”

The House agreed, sending the bill to the Senate on a 68-21 vote.