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Content Tagged As deficit

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  • Louisiana budget deficit includes $12M gap in fund transfers

    October 1, 2015 3:18 PM

    BATON ROUGE - Louisiana's budget deficit from last year was worsened because $12 million in fund transfers that had been planned to plug holes weren't made. Gov. Bobby Jindal's administration hasn't released the size of the gap from the fiscal year that ended June 30. Numbers will be unveiled... more »
  • Treasurer Kennedy on the state budget deficit check to see if lock exists for regeneration Play Video

    September 30, 2015 10:33 AM

    BATON ROUGE- The state budget deficit is looming over lawmakers' heads. A key economist with the state has already told residents to expect cuts before the end of the year. Treasurer John Kennedy stopped by 2une In Wednesday morning to explain the state's financial predicament. "We're spending more money than... more »
  • Tax credit usage helped cause last year's expected deficit

    September 25, 2015 6:50 PM

    BATON ROUGE - Louisiana's expected deficit for last year is driven at least partially by people and businesses cashing in on more tax refunds and credits than anticipated. Commissioner of Administration Kristy Nichols, the governor's chief budget adviser, said Friday it's likely the state closed the books on the... 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 »
  • 'Snakes' in the Capitol check to see if lock exists for regeneration 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 »
  • Veto session possible check to see if lock exists for regeneration Play Video

    June 5, 2015 7:48 PM

    BATON ROUGE - Not once in modern history has a Louisiana governor vetoed the budget, but that might happen if lawmakers aren't willing to play ball. Governor Bobby Jindal has said he's willing to veto the budget if lawmakers don't give him the tax breaks he wants to offset the... more »
  • Budget, movies, taxes on Monday's session agenda

    June 1, 2015 8:45 AM

    BATON ROUGE- The state budget is a top priority at the Capitol Monday. The Senate Finance Committee was in session on Saturday trying to get some work done on the state budget. The state is in a $1.2 billion hole. So far, lawmakers have managed to close the gap... 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 tax credit fight nears check to see if lock exists for regeneration Play Video

    May 6, 2015 8:09 PM

    BATON ROUGE- Mayor Kip Holden made an impassioned defense of the state film tax credit at a press conference that unveiled more films to be shot in Baton Rouge. "This industry is too important to shut the door on people who need jobs, can do these jobs, and can... more »
  • Film makers: no tax credit, no movie business check to see if lock exists for regeneration 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 »
  • Deficit-closing plan from Gov. Jindal delayed to Feb.

    January 29, 2015 12:44 PM

    BATON ROUGE - Gov. Bobby Jindal's administration has pushed back to mid-February the release of its proposal to close a $103 million budget deficit. Jindal administration spokeswoman Meghan Parrish said Thursday that the proposal to rebalance this year's $25 billion budget will be presented to lawmakers at a Feb. 20... more »
  • Jindal quiet about higher ed cuts check to see if lock exists for regeneration Play Video

    January 27, 2015 6:47 PM

    LAFAYETTE- Big cuts are on the way for higher education, but Governor Bobby Jindal isn't saying much about what those cuts will look like. "It's too early to speculate," said Jindal, "certainly the agencies are looking for every opportunity to be more efficient. Everything's on the table." Tuesday... more »
  • New $103M midyear deficit because of oil price plummet

    January 26, 2015 4:31 PM

    BATON ROUGE - Louisiana has a more than $103 million deficit to close in its $25 billion budget because of the continuing fall in oil prices. And next year's budget shortfall now reaches $1.6 billion. The state's budget troubles deepened Monday with the adjustments of the state's income forecasting panel,... more »
  • State lawmakers tight-lipped on spending cuts check to see if lock exists for regeneration Play Video

    January 16, 2015 6:38 PM

    BATON ROUGE- State lawmakers are bracing for a hard hitting budget proposal from Governor Jindal's office next month. With an estimated $1.5 billion dollar hole in next years budget, legislators are left with some tough decisions. The governor already put higher-education on the chopping-block, proposing up to $300 million... more »
  • Cuts likely after utility rate hike veto check to see if lock exists for regeneration Play Video

    January 13, 2015 10:19 PM

    BAKER - For the third time Tuesday night, the Baker City Council voted down a proposal to raise water and sewer rates to off-set a budget deficit. Nearly a dozen residents spoke on the issue; some said they were concerned about how the money would be spent if the... more »
  • Jindal administration working to close budget gap

    December 11, 2014 12:10 PM

    BATON ROUGE - Gov. Bobby Jindal's administration has started sifting through agency budget proposals as it works on a plan to close next year's $1.4 billion shortfall. But Commissioner of Administration Kristy Nichols says the hole isn't quite as large as it appears. About $200 million is tied to inflationary... more »
  • Job cuts, fund sweep used to close budget gap check to see if lock exists for regeneration 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 »
  • US pension insurer ran record $62B deficit in 2013

    November 17, 2014 11:07 AM

    WASHINGTON - The federal agency that insures pensions for about 41 million Americans saw its deficit nearly double in the latest fiscal year. The agency said the worsening finances of some multi-employer pension plans mainly caused the increased deficit. At about $62 billion for the budget year ending Sept. 30,... more »
  • Lawmakers wait for answers on budget surplus question check to see if lock exists for regeneration Play Video

    October 17, 2014 6:28 PM

    BATON ROUGE - State lawmakers have decided to put the budget numbers in the hands of the auditors after taking no action at the joint budget committee meeting Friday. Whether the state ended its year with a budget surplus or deficit depends is unresolved, so the committee decided to... more »
  • Credit agency calls canceled amid surplus dispute

    October 13, 2014 3:20 PM

    BATON ROUGE - Treasurer John Kennedy says updates with the state's credit rating agencies were delayed because of questions about whether Louisiana ended its last budget year with a surplus or a deficit. Gov. Bobby Jindal's top budget adviser, Kristy Nichols, says the state closed its books with a $179... more »
  • Budget axe swings, takes out police and fire positions check to see if lock exists for regeneration Play Video

    July 22, 2014 10:25 PM

    BAKER - Six positions were cut from the city of Baker's budget Tuesday, two firefighters and four police officers. The cuts will help balance the budget that had a near million dollar deficit. The move was approved by the council when it backed the balanced 2014-2015 budget. "We're... more »
  • TSA fees set to increase Play Video

    July 22, 2014 10:40 AM

    WASHINGTON, D.C. - If you thought your last flying experience was bad, it could be getting worse. The TSA is set to double and even triple the fees you pay to fly. The raised prices were mandated by Congress and will automatically be added when you book your flight.... 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 »
  • Louisiana public defenders struggle financially

    May 12, 2014 2:26 PM

    BATON ROUGE - More than 40 percent of Louisiana's public defender offices ran deficits last year as they struggled to come up with enough money to handle the cases of people too poor to afford their own attorneys. That was the finding of an annual report released Monday. ... more »
  • Rising tax revenue shrinks deficit

    August 6, 2013 7:30 PM

    WASHINGTON- Higher tax receipts helped shrink the federal deficit to less than half of what is was a few years ago but that's a double-edged sword according to economists. The shrinking deficit will shape the debate in Congress next month to continue, end or modify billions of dollars in automatic... more »
  • Report says immigration bill cuts deficit

    June 18, 2013 4:36 PM

    WASHINGTON - The Congressional Budget Office says a sweeping immigration bill before the Senate would cut deficits by $197 billion over 10 years. The bill would add $262 billion in new spending and tax credits over 10 years, a sum more than covered by $459 billion in increased revenues, according... more »
  • District faced with teacher layoffs check to see if lock exists for regeneration Play Video

    April 17, 2013 5:48 PM

    ST. FRANCISVILLE- A number of West Feliciana Parish School System employees were told this week that they were being laid off. At least 14 employees, mostly teachers, received layoff notices effective at the end of the school year. Next year the district is facing a $1.5 million deficit.... 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 »
  • Animal shelter could close in Ascension

    March 4, 2013 7:51 AM

    SORRENTO - The Ascension Parish Animal Control Center could be closed if parish officials determine they can't continue to swallow $177,000 in deficit costs each year. The parish operates the control center with a six-person staff on call 24 hours a day to pick up aggressive and injured animals. The... more »
  • Obama stands his ground on fiscal debates

    January 22, 2013 6:56 AM

    WASHINGTON - President Barack Obama devoted one word - "deficit" - to the issue that brought Washington to the brink of fiscal crises time and again during his first term. But it was the paragraph that followed in his inaugural address that foreshadowed what's to come - more hard bargaining... more »
  • Fiscal cliff averted but taxes rise for all check to see if lock exists for regeneration Play Video

    January 2, 2013 5:57 PM

    BATON ROUGE - Lawmakers reached a deal last night in Washington, averting the fiscal cliff, which included tax hikes for the middle class. The deal did not include an extension of the payroll tax cut. Beginning January 1st, one tax went up for everyone. It's a two percent increase... 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 »
  • Senate GOP leader: Obama should offer deficit plan

    November 13, 2012 3:28 PM

    WASHINGTON - Senate Republican Leader Mitch McConnell says it's up to President Barack Obama to present a deficit reduction plan rather than a campaign slogan to Congress. The Kentucky Republican said that like House Speaker John Boehner, he is ready to support new revenue as part of a deal that... more »
  • US government runs $120 billion October deficit

    November 13, 2012 1:30 PM

    WASHINGTON - The federal government started the 2013 budget year with a $120 billion deficit, an indication that the nation is on a path to another $1 trillion-plus deficit. The Treasury Department says the October deficit was 22 percent higher than the same month last year. Officials said last year's... more »
  • Kennedy opposes $50,000 pay raise for Citizens CEO

    November 9, 2012 11:44 AM

    BATON ROUGE - Treasurer John Kennedy is urging rejection of a proposed $50,000 pay raise for the top executive of Louisiana's state-run property insurance company. Kennedy said Friday that he's hoping Insurance Commissioner Jim Donelon will refuse to sign off on the raise for Richard Robertson, CEO of the Louisiana... more »
  • House speaker says he'll consider tax increase

    November 7, 2012 6:02 PM

    WASHINGTON - House Speaker John Boehner is offering to pursue a deal with a victorious President Barack Obama that will include higher taxes "under the right conditions" to help reduce the nation's staggering debt and put its finances in order. Boehner tells reporters a day after the president's clear re-election... more »
  • Group of major CEOs urges tax hikes, spending cuts

    October 25, 2012 1:55 PM

    WASHINGTON - CEOs from more than 80 major U.S. companies are pressing Congress to reduce the federal deficit by raising taxes and cutting spending. With a sea of red ink confronting the nation, the deficit and how to tame it has become a looming theme in the presidential campaign. The... more »
  • BREC golf courses under review after deficit check to see if lock exists for regeneration Play Video

    October 24, 2012 5:43 PM

    BATON ROUGE - After a consistent deficit, the seven BREC golf courses are under review by Baton Rouge Parish Recreation and Park Commission officials. The review could bring some changes, including the "repurposing" of one or more courses. BREC Communications Director Cheryl Michelet says one course could be turned... more »
  • Federal deficit tops $1 trillion for fourth year

    October 12, 2012 2:14 PM

    WASHINGTON - The federal budget deficit has topped $1 trillion for a fourth straight year. But the deficit for the just-ended 2012 budget year is $207 billion less than last year. The deficit totaled $1.1 trillion for 2012. The government's revenue was boosted by a modest improvement in economic... more »
  • CBO tallies 2012 deficit at $1.1 trillion

    October 5, 2012 12:43 PM

    WASHINGTON - A new estimate puts the deficit for the just-completed 2012 budget year at $1.1 trillion, the fourth straight year of trillion dollar deficits on President Barack Obama's watch. The result was a slight improvement from the 2011 deficit of $1.3 trillion. The bleak figures from the Congressional Budget... more »
  • National debt hits $16T; GOP critical

    September 4, 2012 4:36 PM

    WASHINGTON - The national debt has topped $16 trillion as chronic government deficits have piled more than $50,000 worth of debt onto federal ledgers for every man, woman and child in the United States. Barack Obama's GOP rivals used the grim but expected news to blast the president for the... more »
  • Jindal hoping for more revenue to fill budget gap

    July 17, 2012 5:42 PM

    BATON ROUGE - Even with $523 million in announced health care cuts, Gov. Bobby Jindal's administration has slashed only two-thirds of the spending needed to close the entire gap in Louisiana's Medicaid budget. The administration is banking on better-than-expected revenue projections to close the remaining budget hole. If that doesn't... more »
  • House committee to unveil plan to fill state's $211M deficit

    May 1, 2012 8:14 AM

    BATON ROUGE - The House budget-writing committee is unveiling its plans today for filling a $211 million deficit this year, after working behind the scenes with the governor's office on ideas for plugging the gap. The Appropriations Committee also is expected to rework next year's $25 billion budget proposal to... more »
  • House approves Republican deficit-cutting plan

    March 29, 2012 2:43 PM

    WASHINGTON - Republicans have pushed an election-year $3.5 trillion budget through a divided House that showcases their plans for trimming federal deficits and contrasts sharply with how President Barack Obama and Democrats would tackle the nation's fiscal problems. The GOP package would revamp Medicare, slice everything from food stamps to... more »
  • Lafayette budget deficit stirs debate

    March 28, 2012 8:20 AM

    LAFAYETTE - Next year's Lafayette city-parish government budget might need to be $5 million leaner. A discussion on Tuesday about the need for two new fire stations expanded into a debate over how the administration and council will find the estimated $5 million in new revenue that might be needed... more »
  • CATS to run out of money by July check to see if lock exists for regeneration Play Video

    December 21, 2011 8:22 AM

    BATON ROUGE - East Baton Rouge Parish's public transit board says that if it doesn't find more financing, buses will stop rolling next summer. The Advocate reports that the CATS 2012 operating budget of $9.5 million only covers half the year. Board members pledged to try to find more... more »
  • Official: Dems reject latest GOP deficit offer

    November 18, 2011 2:36 PM

    WASHINGTON - A congressional official says Democrats on the deficit-cutting supercommittee have rejected a last-ditch offer from the Republicans that would curb deficits by $545 billion over the next decade. The latest development raised serious doubts about the 12-member bipartisan panel reaching an agreement by Wednesday's deadline. Democrats... more »
  • Democrats, Republicans far apart on deficit deal

    November 16, 2011 4:21 PM

    WASHINGTON - Members of Congress' special deficit-cutting "supercommittee" are expressing pessimism over the prospects they'll reach a deal before next week's deadline. Congressman Chris Van Hollen is questioning whether Republican panel members are willing to negotiate any more on taxes. The Maryland Democrat says he's wondering "whether they've kind... more »
  • Obama urges debt panel to reach for deal

    November 11, 2011 3:12 PM

    ABOARD AIR FORCE ONE - President Barack Obama has urged leaders of Congress' supercommittee to press hard for a deal on slashing the deficit - and not look for an end run around a key enforcement mechanism. Obama spoke to Democratic Sen. Patty Murray and Republican Rep. Jeb Hensarling... more »
  • Federal deficit totaled $1.23T through August

    September 13, 2011 2:44 PM

    WASHINGTON - The federal budget deficit reached $1.23 trillion in August. The third straight $1 trillion-plus deficit adds pressure on Congress and the White House to reach agreement on a long-term plan to trim government spending. The Treasury Department says the deficit grew by $134.2 billion last month.... more »
  • Vitter Holds Forum in Central

    August 9, 2011 5:27 PM

    CENTRAL- Senator David Vitter, R-LA, says the federal credit downgrade should not be a surprise to anyone. He says Standard and Poor's made it clear about the tax cuts needed to avoid the problem. He says S & P asked for $4 trillion in cuts. The debt plan... more »
  • Livingston Parish School Board: teacher layoffs imminent

    February 15, 2011 6:12 PM

    LIVINGSTON - The Livingston Parish School System is under a financial emergency, Superintendent Bill Spear said. The system faces a $10 million shortfall, and over 70 jobs could be lost. The past few years, school systems have been able to avoid layoffs through attrition, but the lack of state... more »
  • Community gives CATS feedback on route/rate plan

    January 4, 2011 4:53 PM

    BATON ROUGE - The Capital Area Transit System, or CATS, heard from the public Tuesday night about its plan to fill a budget deficit by cutting routes and adding rates. The agency is facing a $1.2 million hole in its 2011 budget, and are proposing to get rid of... more »

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