So far, only one bill is headed to the full Louisiana House to address the massive revenue shortfall the state budget is facing come the end of the current fiscal year.
The GOP-controlled House Ways and Means Committee approved legislation yesterday calling for a 4.3% state sales tax starting July 1st. The current rate is 5%, but 1% of that is temporary and expires in the new fiscal year.
The proposed legislation will only bring in an additional $370 million during the next budget year, about $300 million shy of what the state needs to avoid significant program cuts.
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