DID YOU KNOW?
HCR 6 came up again for a vote, in the form of calling it from the calendar, and got slightly more support, 60-37. Rep. Jeff Arnold voted for calling it as opposed to opposing its passage yesterday, while Reps. Billy Montgomery and Joe Toomy, who had voted against it yesterday, were absent. But this still was 10 votes short of the required two-thirds to bust the state’s spending cap.
DID YOU KNOW?
HB 59 would provide an income tax credit of $50 for any parent in Louisiana. Author Rep. Yvonne Dorsey asked to increase the credit to $75 while suspending the education tax credit, which was done without objection.
Rep. John LaBruzzo wanted to amend away the most objectionable part of the part, which would not allow money to come back to people who do not pay taxes, and would extend the credit retroactively back three years cumulatively as well as increasing it to $100 per year. Thus, if a tax liability for the preceding three years was at least $300, all would come back to the individual. Dorsey objected, saying it was to help “working” families, without justifying why people who did not pay up to $100 a year in income taxes should get any money from others who do pay taxes in the state. Rep. Juan LaFonta argued disabled veterans would be unable to claim this according to the amendment. Rep. William Daniel IV requested a division of the amendment, for a vote to make for an amendment for $100, and then to only go for those who pay enough income taxes carried forward for three years. That first one failed 44-48, and the second failed 23-71.
Dorsey closed on it, pointing out this kind of earned income tax credit was applied by the federal and state governments in other ways. The bill passed 97-0.
QUOTE OF THE DAY:
If you hire a good CPA, you shouldn’t have any income liability.
Rep. Joel Robideuax, who is a CPA who prepares income taxes in part for a living
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