Income tax repeal bill revived in House committee
POSTED: Monday, June 13, 2011 - 6:08pm
UPDATED: Friday, October 14, 2011 - 10:06am
BATON ROUGE, La (NBC33) — The proposed bill to repeal the state's personal income tax is back in action Monday. That's after the House Ways and Means Committee voted to get rid of the $2.35 billion dollar tax over a ten-year period. If the bill passes, the repeal would start in 2014.
Bill author, Senator Rob Marionneaux says he would offset the loss of dollars by cutting back on tax breaks to special interest groups, like oil companies and the movie industry.
"It's just a question of whether you want to give that particular industry a tax break to the tune of $164 million, or give every person who lives and works in Louisiana a tax break," says Marionneaux.
The Senate voted to change the repeal into a study to see how the loss of those dollars would affect the state. The Ways and Means Committee suggested to keep the study Monday, but they also want to go forward with the repeal no matter what the study commission recommends.
It will go to the House floor for debate.