Shreveport, LA – According to the state officials, Gov Landry’s address to the Louisiana Legislature stressed the urgency for tax reform, highlighting the state’s outdated 1,400-page tax code, which has not seen substantial updates since 1974.
He underscored that the current tax structure, filled with exemptions and loopholes, benefits a select few while stifling economic growth.
Citing successful reforms in states like North Carolina, Landry outlined a vision for Louisiana’s fiscal transformation, including a significant reduction in income tax rates, the elimination of the corporate franchise tax, and a permanent pay raise for public school teachers.
His proposed reforms include transitioning to a fairer, consumption-based tax system, removing special-interest exemptions, and eliminating the income tax on labor, which he argued is a hindrance to economic progress.
Governor Landry urged lawmakers to seize the moment to modernize Louisiana’s tax system, bringing relief to families, encouraging small business growth, and fostering job creation.
The special session’s proposals also address long-standing issues in budget stability, educational funding, and local government flexibility, positioning Louisiana to attract investment and retain residents for generations to come.