KRVS

fy 2020 budget

Governor John Bel Edwards’ administration  presented a $31 billion proposal for next year’s budget on Friday. But before it can become a reality, a legislative stalemate would have to break. 

It took three special sessions for the Legislature to resolve the state’s fiscal cliff earlier this year. After months of deadlock, state lawmakers finally added slightly less than half a penny to the 4% sales tax rate in order to stave off a budget deficit. But in light of a budget surplus and the potential for increased revenue, some lawmakers are reconsidering that sales tax rate. 

For the second time in as many weeks, Republican leaders in the House have rejected guidance from state economists who estimate Louisiana’s income will be higher than expected this fiscal year and next.