Louisianans have something extra to be thankful for going into Thanksgiving: state lawmakers passed a tax reform package designed to lower the cost of living in the Pelican State. The legislation will:
Louisiana has one of the most complicated tax codes in the country. This burdensome tax climate discourages businesses from investing in the state, which stifles economic growth and limits opportunities for Louisiana families. As a result, Louisiana has one of the highest poverty rates in the country. In addition, with policies that hinder job creation, people are leaving Louisiana in droves to look for opportunities elsewhere. Reforming the tax structure is an essential step toward reversing this trend and setting Louisiana up for economic success.
The Pelican Institute for Public Policy, SPN’s affiliate in the state, has been instrumental in advocating for reforms that put Louisiana on a better economic path. Through timely research, blog posts, media placements, outreach to legislators, and other efforts, Pelican offered solutions to address the state’s tax challenges.
On November 22, 2024, lawmakers passed key elements of Pelican’s policy recommendations, including making the tax code fairer and more transparent. When the law takes effect on January 1, 2025, Louisianans will be able to keep more of their hard-earned money. This reform is especially significant as many residents are struggling with persistent inflation and the high cost of living.
Laurie White Adams, the Pelican Institute’s Director of Government Affairs & Advocacy, added: “This package represents a tax cut for every taxpayer, simplifies what is currently among the most complex tax codes in the country, constrains growth of recurring spending, and repeals a punishing franchise tax.”
While this is a significant win for Louisiana residents, Pelican noted the work is not done yet. “We look forward to collaborating with the governor and legislators to continue lowering taxes and streamlining government spending. Our goal is to ultimately eliminate the personal income tax and establish a sustainable and transparent budget.”
Congratulations to the Pelican Institute for driving positive change and to lawmakers for taking action to secure a brighter economic future for Louisiana!
Fiscal Reform Package Moves Louisiana Forward
Pelican Institute
A Tax Plan for Our Brighter Future
Pelican Institute
Governor Jeff Landry Concludes Historic Tax Reform Special Session
Office of the Governor
