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Content Tagged As budget_deficit

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  • Lawmakers urged to raise state sales tax Play Video

    January 13, 2016 7:51 PM

    BATON ROUGE - State lawmakers were told to face the music and raise the sales tax Wednesday. LSU professor Jim Richardson said it's one of the only ways to raise money immediately. Lawmakers have till June to raise $700-$750 million. Otherwise Medicaid, public schools and state colleges could run out... more »
  • US budget deficit rose in December

    January 13, 2016 2:10 PM

    WASHINGTON - The federal budget deficit increased in December and for the third month is running ahead of last year's pace. The Treasury Department says the deficit totaled $14.4 billion in December. That compares to a small surplus of $1.9 billion in December 2014. For the first three months of... more »
  • Governor-elect's adviser warns of 'more dire' budget woes

    December 30, 2015 12:40 PM

    BATON ROUGE - Gov.-elect John Bel Edwards' administration is warning that Louisiana's budget woes are even worse than it had anticipated, with an estimated shortfall of up to $750 million that needs to be closed by the end of June. Jay Dardenne, Edwards' chief financial adviser, told reporters on... more »
  • Senators seek plan to expand Louisiana's Medicaid program

    December 7, 2015 1:23 PM

    BATON ROUGE- State senators are asking Louisiana's health department to draw up a Medicaid expansion proposal within weeks, as they ready for a new governor who wants to tap into that provision of the federal health care law. Lawmakers have repeatedly rejected Medicaid expansion plans, siding with Republican Gov.... more »
  • Credit agency says La. deficit plan was only 'stop-gap' fix

    December 4, 2015 5:02 AM

    BATON ROUGE- A national credit rating agency says the maneuvers used by Gov. Bobby Jindal and lawmakers to close a $487 million midyear budget gap were only temporary fixes. Fitch Ratings released its analysis Thursday of the work recently done to rebalance this year's $25 billion budget. The assessment was... more »
  • Jindal plan to close $487M budget deficit wins approval

    November 20, 2015 1:16 PM

    BATON ROUGE - Lawmakers have agreed to Gov. Bobby Jindal's plan to rebalance the state's budget and close a $487 million deficit. Though members of the joint House and Senate budget committee raised concerns that the patchwork plan would leave a slew of financial problems for a new governor taking... more »
  • More budget cuts coming: New $370M state deficit emerges Play Video

    November 16, 2015 1:14 PM

    BATON ROUGE - The budget hits keep on coming in Louisiana. The state has a $370 million midyear budget deficit, amid oil and gas price drops and lower-than-expected business tax collections. A downgrade of the state's income projections was approved Monday by the Revenue Estimating Conference. Gov.... more »
  • US government records $136.5 billion October budget deficit

    November 12, 2015 2:13 PM

    WASHINGTON - The U.S. government started its new budget year with a deficit in October, although the imbalance was made worse by a calendar quirk. The Treasury Department says the October deficit totaled $136.5 billion, up 12.2 percent from October 2014. In both years, Nov. 1 fell on... more »
  • Budget deficit lowest in 8 years

    October 15, 2015 9:05 PM

    WASHINGTON- Tax revenue is out pacing U.S. Government spending and the budget deficit for 2015 dropped to its lowest level in 8 years. The Treasury Department says the deficit fell to $439 billion in the just-completed budget year. That is equal to 2.5 percent of the economy and is... more »
  • Louisiana ended most recent budget year with a deficit

    September 23, 2015 3:47 PM

    BATON ROUGE - Gov. Bobby Jindal's administration is quietly notifying legislative leaders that Louisiana closed the books on the last budget year with a deficit, but the administration isn't saying publicly how deep the problem is. The announcement of the deficit's size is expected in mid-October, when details are... more »
  • State sales tax expansion possible

    September 16, 2015 7:51 PM

    BATON ROUGE - There's talk around the Capitol of expanding a state sales tax for everyday items. Under the Louisiana's constitution things like groceries, gasoline, prescription drugs, and residential electric bills are exempt from a state sales tax. "Those are some of the most stable and consistent purchases consumers make,"... more »
  • US budget deficit drops to $64.4 billion in August

    September 11, 2015 2:05 PM

    WASHINGTON - The federal government ran up a much smaller budget deficit in August than a year ago, remaining on track to record the smallest annual deficit in eight years. The Treasury Department says the deficit in August totaled $64.4 billion, a drop of 50 percent from the same... more »
  • US budget deficit drops to $82.4 billion in May

    June 10, 2015 2:04 PM

    WASHINGTON - The U.S. budget deficit for May dropped sharply from the level a year ago but much of the improvement reflected a calendar quirk. The Treasury Department says the deficit dropped to $82.4 billion in May, down from a deficit of $130 billion in May 2014. But last year's... more »
  • 'Snakes' in the Capitol Play Video

    June 9, 2015 8:06 PM

    BATON ROUGE- The session is nearly over which means special groups known as conference committees begin to form. Those are special committees where important bills go to get hashed out, but can also be the catalyst for legislative mischief. "This is the time of the year when the 'snakes'... more »
  • Louisiana House to complete budget work on Thursday

    May 21, 2015 8:35 AM

    BATON ROUGE- The Louisiana House is expected to finish its work on next year's $24 billion budget Thursday. Lawmakers have spent the last few days deciding what programs to cut. Healthcare is likely to take the brunt of the reductions, as lawmakers hurry to protect public colleges and universities.... more »
  • Analysis: Jindal's presidential motivations

    May 15, 2015 9:15 PM

    BATON ROUGE- Almost anyone who follows politics assumes Governor Jindal will run for president. Some are calling it "the worst kept secret in Louisiana." Jindal's staff has said the governor will announce whether or not he's running after Louisiana's legislative session ends in June. However, his chances of winning... more »
  • Analysis: Jindal's presidential motivations

    May 15, 2015 7:22 PM

    BATON ROUGE- Almost anyone who follows politics assumes Governor Jindal will run for president. Some are calling it "the worst kept secret in Louisiana." Jindal's staff has said the governor will announce whether or not he's running after Louisiana's legislative session ends in June. However, his chances of winning... more »
  • Film makers: no tax credit, no movie business Play Video

    February 16, 2015 7:11 PM

    BATON ROUGE- Louisiana movie makers say rolling-back the film industry's tax credit could kill the business. The Jindal administration wants to reduce tax exemptions to help with next years $1.6 billion budget deficit, and it's focusing on film makers. Higher education and health care are expected to take big... more »
  • Lawmakers back Jindal plan to close $170M deficit

    December 18, 2014 4:11 PM

    BATON ROUGE - Louisiana lawmakers have agreed to Gov. Bobby Jindal's plan to use a mix of patchwork financing and modest cuts to close a budget deficit of more than $170 million. The House and Senate budget committees backed the proposal without objection Thursday, only days before the budget had... more »
  • Job cuts, fund sweep used to close budget gap Play Video

    November 21, 2014 3:06 AM

    BATON ROUGE - Governor Bobby Jindal's administration plans to use a combination of hiring freezes, open position cuts and extra funds such as TOPS money to fill a $180 million gap in the state's budget. Commissioner of Administration Kristy Nichols said the plan reduces costs across state agencies while... more »
  • La. tax amnesty program estimates raising $169M

    November 20, 2014 2:53 PM

    BATON ROUGE - Louisiana's latest amnesty program for delinquent taxpayers is expected to bring in $169 million. That's more than lawmakers included in this year's budget, but not enough to close a midyear deficit that has emerged since then. The Department of Revenue announced the tax amnesty program's projected haul... more »
  • Report: Federal budget deficit falls to $486B

    October 8, 2014 10:21 AM

    WASHINGTON - A new report says the federal government's budget deficit has fallen to $486 billion, the smallest pool of red ink of President Barack Obama's six-year span in office. The Congressional Budget Office estimate shows better results than earlier projections by both CBO and the White House budget Office.... more »
  • US budget deficit running 24.2 percent below 2013

    August 12, 2014 1:08 PM

    WASHINGTON - The federal government ran a lower deficit this July than a year ago, keeping it on course to record the lowest deficit in six years. The Treasury Department says that the July deficit was $94.6 billion, an improvement of 3.1 percent from a year ago. For the first... more »
  • Budget cuts push cops to look for new jobs

    May 30, 2014 10:16 PM

    BAKER - Baker police officers have applied for new jobs with citywide budget cuts possibly coming soon. Two full-time patrol officers have already been cut from the Baker Police Department, and Baker Police Chief Mike Knaps believes more cuts are on the horizon. The department's questionable future has some... more »
  • US on track for narrowest budget gap since 2008

    May 12, 2014 1:28 PM

    WASHINGTON - The U.S. government ran a big surplus in April, thanks to a flood of tax payments that helped keep the budget on track for the lowest annual deficit in six years. The Treasury Department says April's surplus totaled $106.9 billion, down slightly from last April's $112.9 billion surplus.... more »
  • Budget deficit shrinks

    February 12, 2014 7:41 PM

    WASHINGTON- The government's budget deficit is predicted to shrink to its lowest level in six years if trends continue. It's down more than 36% from a year ago which signals more improvement in the U.S. economy. From October to January, the deficit was $184-billion, down $106-billion from the... more »
  • Lawmakers use amnesty to offset budget deficit

    January 24, 2014 12:51 PM

    BATON ROUGE - The state's operating budget is back in balance, after lawmakers agreed to use nearly $32 million from Louisiana's recent tax amnesty period to plug a deficit. The shortfall stemmed from a revision in the state's income estimates, because of worse-than-expected tax collections in the current fiscal year... more »
  • Lowest budget deficit in 5 years

    October 30, 2013 7:50 PM

    WASHINGTON- The U.S. government has run a budget deficit below $1 trillion for the first time in five years. The deficit is the gap between what the government takes in and spends. The deficit has an imbalance of $680-billion, down from more than a trillion last year. ... more »
  • Budget deficit on track below $1 trillion

    June 12, 2013 7:56 PM

    WASHINGTON- The government says the budget deficit is on track to finish below $1 trillion for the firs time since 2008 even though it widened last month by $139 billion. Steady economic growth and higher tax rates boosted the government's revenue by 15% this year while government spending barely increased.... more »
  • Obama: Budget shrinks deficits and expands economy

    April 10, 2013 10:18 AM

    WASHINGTON - President Barack Obama is sending Congress a $3.8 trillion spending blueprint that strives to achieve a "grand bargain" to tame runaway deficits. It would raise taxes on the wealthy and trim popular benefit programs including as Social Security and Medicare. The president's budget projects deficit reductions of $1.8... more »
  • Growth in budget deficit slows

    February 12, 2013 7:13 PM

    The federal government reports a rare surplus for January and the Treasury Department says its on track for the smallest budget deficit since President Obama took office. The surplus was almost $3 billion dollars. It lowered the deficit through the first four months of the budget year to $290 billion,... more »
  • Moody's pressures Congress to deal with deficit

    January 2, 2013 3:42 PM

    WASHINGTON- Moody's Investors Service says Congress must go beyond its deal this week and come up with a plan to shrink the budget deficit if it wants to keep the U.S. government's top credit rating. The credit rating agency says in a statement that it expects lawmakers in the coming... more »

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