Manfred Dix

Sue Lincoln

"This is now becoming not an exercise on paper, and a 'what-if?' – it's about to become reality."

 

Commissioner of Administration Jay Dardenne was referring to the fiscal cliff, during the most recent Revenue Estimating Conference meeting. Dardenne then asked the Office of Planning and Budget’s Manfred Dix for an analysis of the ripple effect of cutting a billion dollars from the state budget.

legis.la.gov

Gov. John Bel Edwards was pleased with the results of Thursday’s Revenue Estimating Conference meeting, telling the panel, "For the first time in many years, you've actually upgraded our forecast for current year and for next year. Let’s just hope we’re accurate on that."

Mark Carroll

State fiscal analysts did not spare the bad news when the Revenue Estimating Conference met Wednesday.

“Sales tax is stagnating,” Legislative Fiscal analyst Greg Albrecht advised, adding, “The employment numbers are so bad it’s going to bleed into those income tax numbers.”

Manfred Dix with the Division of Administration was a bit more understated with his pronouncements on the revenue downturns.

“A substantial downgrade in the corporate forecast is advisable,” Dix said, regarding the fact the state has paid out more in corporate tax refunds than it has collected in corporate taxes paid. “It is really bad.”