LAFAYETTE PARISH — Gov. Jeff Landry’s tax reform special session began Wednesday as he proposed significant changes to Louisiana’s tax system.
Calling Louisiana’s tax code “broken,” Landry addressed lawmakers, aiming to gain their support in the special legislative session.
“This tax code is broken, this tax code is incredibly outdated, and this tax code is holding our state back,” Landry said.
The special session will consider 23 items that Landry hopes will help drive Louisiana’s economy forward and bring relief to millions of residents. Proposals include eliminating income taxes, increasing teacher pay, and providing sales tax exemptions on prescription drugs.
Landry said he hopes the tax reforms will help bring Louisiana’s economy in line with other states across the country.
“Louisiana must change, or sadly, other states will continue to rob us of our children and our grandchildren,” Landry said.
The governor also proposed cutting the corporate income tax rate from 7.5% to 3.5% and repealing special tax credits.
In a media conference last month, Landry said his plans would help address Louisiana’s budget shortfall. Analysts from the Public Affairs Research Council of Louisiana are currently assessing the proposals to determine what impacts they will have on Louisiana residents.
“Generally, we like the approach, but there are still a lot of things that hopefully they will answer in the next few days,” said Steven Procopio, president of PAR Louisiana.
Landry’s plans will need approval from lawmakers in the session and from voters in the spring of 2025.
