It’s a new year, but Louisiana is facing the same old problems with budget shortfalls. Rep. Gene Reynolds, D-Minden, said the state is facing $1.1 billion in cuts due to a “fiscal cliff” on the horizon.
Reynolds took to Facebook Thursday to address the “cliff” and efforts to mitigate it.
“This situation, according to staff, was actually created in 2008, when the legislature repealed the income tax portion of the ‘Stelly Plan’ and left the sales tax exemptions in place which caused a decrease in revenue of about 800 million dollars,” Reynolds said. “This along with big tax exemptions or tax