Posted: Jan 15, 2013 4:03 PM
Source: Associated Press
BATON ROUGE - The leader on Gov. Bobby Jindal's proposed tax code rewrite, Tim Barfield, says the administration wants to keep most of the state's economic development incentive programs as part of the revamp.
Many of the programs give credits or exemptions to income taxes.
Though Jindal is proposing to eliminate state income taxes in exchange for higher sales taxes, Barfield says the governor's proposal will keep modified versions of most of the incentive programs overseen by the Department of Economic Development.
That will involve coming up with some other mechanism to pay for them. Barfield says those ideas are still being worked out.
Barfield spoke Tuesday at the annual meeting of the Louisiana Association of Business and Industry about basic concepts Jindal will propose to lawmakers in the upcoming legislative session.