Posted: Mar 18, 2014 12:30 PM by Melinda Deslatte
Source: Associated Press
BATON ROUGE - Lawmakers who keep hearing job creation stories from Gov. Bobby Jindal have asked the governor's economic development chief to explain why state tax revenue remains stagnant.
The questions came Tuesday as members of the House Appropriations Committee were reviewing the Department of Economic Development's budget.
Jindal repeats that his administration has announced business projects that will bring 80,000 new jobs and $50 billion in capital investment. But Appropriations Chairman Jim Fannin says he's not seeing the job growth reflected in state tax receipts.
Economic Development Secretary Stephen Moret says Louisiana is outpacing the nation in job growth, but he says the growth is limited by the slow recovery of the national economy.
He also says use of state tax breaks has grown significantly, siphoning more money from the state treasury.