Louisiana to receive $346 million windfall in tax collections

The Revenue Estimating Conference met Thursday to gain a firmer grasp on the state budget gap. Members include (from left to right): Speaker Taylor Barras, Senate President John Alario, Division of Administration Commissioner Jay Dardenne and LSU economist Jim Richardson. | Photo Credit: Joby Richard / LSU Manship School News Service

By Joby Richard

The fiscal cliff facing the Legislature is a little less steep than originally projected thanks to a new estimate that Louisiana will receive a $346 million windfall in tax collections as a result of changes in federal tax law.

The Revenue Estimating Conference on Thursday adopted that estimate along with projections by the Division of Administration that the state could face a $648 million budget gap unless the Legislature votes to cut services or raise more revenue.

Read the story in KALB-TV/kalb.com.

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