Economist: La. tax break programs are 'open-ended' spending
BATON ROUGE - The Legislature's chief economist says state officials need to look at Louisiana's long list of tax breaks as spending programs that siphon dollars away from the budget.
Louisiana has $7 billion in various tax credits, rebates and deductions. Greg Albrecht said Monday that the programs take money away from the state treasury just like road projects, health care services and other items included in the state's annual budget.
But Albrecht told the Press Club of Baton Rouge the difference with the tax breaks is the spending is "open-ended," with few controls and no review from state lawmakers as the money goes out the door.
Albrecht's comments come as state lawmakers have openly wondered whether some of the tax breaks are too costly for the state to continue.