According to the Baton Rouge Area Chamber, BRAC, there existed a “disconnect” in what transpired at the Capitol at the conclusion of the session and summarizing the session as a whole, Louisiana governor Bobby Jindal and the legislature funded higher education but raised business taxes.
The Baton Rouge Area Chamber (BRAC) today released an analysis of the results of the regular session of the Louisiana Legislature and its impact on economic development in the nine-parish Capital Region. BRAC’s 2015 legislative agenda focused on the areas of tax and incentives, education and workforce, and transportation infrastructure. Earlier this year, the regional economic development organization identified eight priorities critical to the advancement of the regional economy. The complete analysis of the session is accessible at brac.org/erinonthego.
“This session underscores the importance of the governor’s race and the need for leadership to advance economic development, major investments in transportation infrastructure, and true fiscal and tax reform, as well as higher education and health care funding,” said Adam Knapp, BRAC’s president and CEO. “BRAC advanced a bold agenda this session, seeking to preserve the state and region’s economic competitiveness, while also attempting to identify revenue raising opportunities that wouldn’t jeopardize our education system.”
Citing the Capital Region’s milestone level of employment of 400,400 nonfarm jobs, BRAC emphasized a “disconnect” in what transpired at the Capitol at the conclusion of the session. In summary, BRAC characterized the session thusly: the Governor and Legislature raised business taxes, and funded higher education.
BRAC observes that most attention focused on the revenue side of the equation and suggests that similar attention must be placed on the expenditure side in order for meaningful fiscal reform efforts to truly materialize.
BRAC’s Analysis of the 2015 Legislative Session is available online.
About the Baton Rouge Area Chamber
The Baton Rouge Area Chamber (BRAC) leads economic development in the nine-parish Baton Rouge Area, working to attract new companies and assisting existing companies with growth and expansions. Today, BRAC investors include approximately 1,400 businesses, civic organizations, education institutions, and individuals. In this capacity, BRAC serves as the voice of the business community, providing knowledge, access, services, and advocacy. More information is available at brac.org.