More than $600 million in the hole and possibly millions of dollars in increased taxes for Louisiana taxpayers, it is obvious our state is in a vulnerable time. Now, lawmakers from other states are paying attention, like Florida Governor Rick Scott.
“He’s kind of coming into our backyard and poaching businesses,” said Local 33 and Fox 44 Political Analyst Jeremy Alford.
There is talk Governor Scott plans to visit our state to try to take businesses and move them to Florida, but what could this mean?
“It’s difficult to say right now if any businesses will be lured from Louisiana to Florida, the state is having to kind of peel back some incentives, even get rid of some programs when our tax ratings are so low,” said Alford. “Really these are just kind of mind games, political mind games, and we rarely see this.”
State Treasurer John Kennedy, who is an opponent of tax increases to fix the budget, believes these potential income tax hikes could deter businesses.
“Nobody in another state is going to wake up tomorrow morning, and go… ‘Look, Louisiana just raised taxes, let’s move down there.’ That’s not the way it works. You have to keep taxes reasonable, just like regulations, and we need to be mindful of that,” said Treasurer Kennedy. “In terms of competition, look competition makes us better. I meant what I said, Governor Scott welcome, spend money here. You know, you’ve not a great state, four and a half times bigger than us, but we’re 10 and a half times more interesting.”
Governor Scott will also make a stop in New Orleans. Make sure to stick with Local 33 and Fox 44 for update on when and where he will be for his visit.