Published: April 19, 2023
By: Molly Ryan, LSU Manship School News Service
Rep. Richard Nelson suspended his proposal to eliminate the state income tax after discussing it this week with skeptical lawmakers at a House Ways and Means Committee meeting.
Instead, Nelson, R-Mandeville, will likely make his proposal the linchpin of his run for governor this year.
His plan includes phasing out the personal income tax and corporate franchise tax over the next four years while eliminating various tax exemptions.
It also would reduce the state’s portion of the Minimum Foundation Program formula that funds K-12 education and reduce state spending in other areas to offset any lost revenue.
Lawmakers said his proposal is unlikely to receive further attention this session.
Read more at WWNO