Louisiana Senate Bill SCR6

Louisiana 2015 Regular Session

• Introduced: 4/1/15
• Refer: 4/1/15
• Refer: 4/13/15

Caption

Suspends for the 2015-2016 Fiscal Year all excise tax exclusions, exemptions, deductions, and credits.

Impact

The suspension of these tax benefits would affect various taxpayers and entities that previously benefited from the excise tax concessions. It is expected to generate additional revenue for the state during the specified fiscal period, allowing for improved funding for essential services and programs. However, the resolution also places a burden on businesses, individuals, and organizations that relied on these tax deductions and credits for financial relief.

Summary

SCR6 is a Senate Concurrent Resolution aimed at suspending all excise tax exclusions, exemptions, deductions, and credits for the 2015-2016 fiscal year in Louisiana. This move is primarily driven by the anticipated fiscal needs of the state, where the losses incurred from these tax breaks are seen as detrimental to maintaining essential public services. The resolution reflects a comprehensive approach to managing the state’s budgetary constraints while facing declining revenues.

Sentiment

Legislative sentiment around SCR6 appears mixed; proponents argue that the suspension is a necessary step in response to fiscal challenges, emphasizing the need for responsible governance and prioritization of public services. Conversely, opponents may express concerns regarding the impact on economic activity and the financial strain placed on businesses and individuals, articulating fears that such measures could hinder economic growth and recovery.

Contention

While the resolution seeks to provide immediate fiscal relief by increasing state revenues, notable contention exists around the fairness of suspending tax benefits that help certain groups. Critics may argue that such sweeping measures lack specificity in addressing the needs of vulnerable demographics or essential services. The debate may also center on how the resolution aligns with broader economic strategies and the potential long-term implications for state fiscal policy.