Budget deal made by lawmakers has short-term fixes, patches
BATON ROUGE - A day after lawmakers passed a $24 billion budget in a frenzied end to the legislative session, financial analysts were sifting through the tax bills expected to finance it to make sure the numbers add up.
Higher education leaders were celebrating Friday an escape from deep cuts. Businesses and smokers were grumbling over increased taxes they'll pay as part of the budget-balancing plans.
Lawmakers acknowledged they passed largely short-term fixes. Many of the tax bills expire in three years, and the budget contains $500 million in patchwork money that will have to be replaced within a year.
But with Jindal's restrictions on what financing he'd consider, lawmakers agreed to his terms and will wait for Louisiana's next governor, elected this fall, to craft long-term structural changes to state financing.