Tagged: state budget 2013

Comedienne, author and colorectal cancer survivor Brenda Elsagher, who'll speak tonight at the Pennington Center.

Jim talks with Douglas Baker, from the Louisiana Department of Revenue, about the schism between lawmakers and the Governor over use of one-time money to balance the state budget, and recent legislation to reduce tax breaks for businesses to make up that imbalance.

New Orleans area bankruptcy lawyer Bill Cherbonnier, who is opposed to House Bill 567, by Baton Rouge Rep. Erich Ponti. It would repeal the state's ban on for-profit debt adjusters.

The legislature’s bipartisan budget negotiations have yielded a late-night preliminary deal, struck after the legislature closed up shop on Monday. The plan will cut tax exemptions and reduce spending to curb the state's dependency on one-time funds.

The deal includes cutting tax exemptions by 15 percent across the board. That will free up $329 million, enough to replace a large chunk of the half a billion in one-time funds in next year’s budget.

After five years of steep budget cuts, some members of LSUnited, the faculty union, are hoping the legislature’s budget negotiations will raise enough revenue to prevent further cuts.

Lawmakers are looking at plans to cut tax exemptions and get rid of one-time funds, which might provide more stability to the state’s universities.

Michael Russo, a librarian and an instructor, said LSU’s finances are dismal.

"A half billion here, a half billion there," Russo said, "I don’t know what else they can cut."