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Senators outline budget balancing plan, calls for more taxes

7 months 2 weeks 5 days ago March 03, 2016 Mar 3, 2016 Thursday, March 03 2016 March 03, 2016 1:14 PM in News
Source: Associated Press

BATON ROUGE - State senators have unveiled their plan to rebalance Louisiana's short-term budget gap, seeking to lessen cuts proposed by the House and largely shield public colleges and health services from steep reductions.

But the plan requires the House to back $83 million more in taxes than the $293 million in tax hikes House lawmakers have agreed to raise for this year's budget.

The Senate Finance Committee reworked the main budget rebalancing bill Thursday, outlining senators' favored approach to closing a shortfall once estimated to top $900 million this year.

Senators want to reverse House-backed cuts that would nearly shutter the education department. Their plan would use money from a debt refinancing - and would require striking a deal with the House on additional taxes.

The special session must end next week.

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