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Louisiana Senate approves amendment to allow tax cut, tax break swap by David Jacobs, The Center Square April 21, AM Print this article The Louisiana Senate approved a possible constitutional amendment Tuesday that would lower the maximum allowable personal income tax rates and remove a major tax break from the constitution.
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Senate Bill is part of a package of tax-related constitutional amendments legislative leaders in both chambers are pushing. They later may be combined into a single instrument, said Sen. Stuart Bishop, R-Lafayette, the rates would be set at 1. While some people might pay a little more or less, each new proposed bracket is meant to bring in about the same amount of money as the current brackets based on Link of Revenue estimates, Allain said.
Legislators and analysts across the political spectrum long have called for the change.
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SB passed by a vote, easily surpassing the two-thirds threshold a proposed constitutional amendment needs to advance. The bill now moves to the House. The suspension, originally meant to help small companies during the COVIDrelated downturn, is scheduled to expire when this fiscal year ends June ]
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