Lawmakers’ significant others aren’t going to be in love with the governor, as John Bel Edwards says he’s setting the special session to start Valentine’s Day.
“I expect to start on February the 14th and end no later than March the 4th.”
And more than a few of the lawmakers aren’t going to love the proposals, which will include tax increases.
“The need for additional revenue is now, and it’s acute,” Governor Edwards told the press Tuesday.
Governor Edwards said his meeting with House Speaker TaylorBarraswas cordial, though the Republican was non-committal about how legislators will receive the proposals to alleviate the budget shortfalls.
“He did share with me that he understands that we have a serious problem; that he certainly knows we cannot address the problem without raising revenue, because there just isn’t enough there to be cut,” Edwards said.
Commissioner of Administration Jay Dardenne went over the proposed four-pronged approach to the estimated $750-million shortfall in the current budget year.
“We can take another 128-million from the Rainy Day Fund in this calendar year, which we’re going to do,” Dardenne said. “Add to that, 200-million from the initial BP payment for economic losses that the state incurred. One cent sales tax, plus reductions in the statutory dedications are the four key components of what we’re proposing for the short term.”
An additional one cent in state sales tax is expected to raise $216-million from the time it’s enacted through the end of the fiscal year. Secretary of Revenue Kimberly Robinson says if approved, the added sales tax could start being collected April first, at the latest.
And the trimming of statutory dedications should free up another $160-million, all adding up to just under $600-million. The governor says the rest will be made up through across the board cuts.
“With respect to the mid-year problem, this takes on the shape of a plan,” Edwards said, adding that the long-term fix will be more like a “menu of options”.
Copyright 2016 WRKF
