Lawmakers to analyze tax breaks
POSTED: Monday, July 23, 2012 - 6:30pm
UPDATED: Monday, July 23, 2012 - 6:34pm
BATON ROUGE,LA (NBC33) — More than four billion dollars in tax breaks. That's the amount private businesses here in Louisiana receive from the government. A commission that met for the first time on Monday is deciding which of these need to stay and which gotta go. Walt Leger is a member of the 12 person revenue study commission.
"This commission has an important role to make sure that the incentives that we offer, whether they be rebates, whether they be credits, whether they be exemptions actually help to create a more business-friendly environment," says Speaker Pro Tempore Walt Leger
"I've seen these types of commissions before. A lot of tough talk and this and the other and nothing ever come of it," says Treasurer John Kennedy.
State Treasurer John Kennedy isn't 100% sure the commission is necessary. He says it could only be a cover to tax business more and hurt the economic environment here
"Forgive my cynicism. If all they're doing is coming in, using this as an excuse to raise taxes. It's dead on arrival," says Kennedy
The commission is set to analyze more than 400 different tax breaks. Leger says one idea on the table is to reduce them by five to ten percent across the board. he believes though whatever the commission decides Louisiana will still be an attractive place for businesses.
"Certainly, I don't think anybody on this commission wants to put any undo burden on business and industry in Louisiana. We want to continue to be friendly to business, attract new businesses to the state over the last several years," says Leger.