WWL>Topics>>Think Tank 1010am $300 million dollar deficit

Think Tank 1010am $300 million dollar deficit

Jan 19, 2017|

Here we go again!  Louisiana is facing a $300 million dollar deficit.  Should legislators cut programs across the board or once again cut education and health? This hours guest: Walt Leger - State Rep District 91

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Automatically Generated Transcript (may not be 100% accurate)

And book and Barrett to be old in drank. Does it today. Did President Obama have a good reason to commute descendants of those sold. Classified documents to WikiLeaks. And will lose to open the door for more leads that could threaten American security. Boy I got the raft of complaints from prisons call overs so you're ruse does. And an odd to some of the things that Brandon and I think a couple of them come out of five anger a little bit. Because it's a quite as cotton bra that sing era I think you'd. We're gonna have to deal a liberal side blinked and you know conservative side blinked at twelve noon. Try to give bodes so that is what occurred board should brokered and bought me eat it. Cause and a call. Thought the Euro inauguration. And tomorrow question vote from build to burn bridges in his runs to the world. We'll talk to Leo political science professor. And a Pia went and talked about today. Report pulled up on the holds more Britain to liberal publication. But the should really. Pay if they're right. Lives borne from going to use them to date. In the federal government and massive departments. That this article right. Hold its country. So aura some don't that think the museum's main zone should be here we go again. You know pacing a little over 300 million dollar deficit. Lot of bridge your ribs that session. Should be cut health education again and should do brought brought cod. Whatever these things horror. We go to a local representative Walter luxuries they've brokers and the district newborn altered and so we're going to withdraw. Absolutely nicely with the power banks and you. Did there come anomaly at the banner for means more. Helping your your two year. You hear of them are before I get them to sit 101000 questions. Explaining to the audience Borden board this into action news. So that situation as that that collapsed. Last week revenue estimating conference met. And recognize the budget deficit of about 304 million dollars which. You know who really doesn't comment much of a surprise to many of us we left this session last year with paying. Balanced budget quote on quote. But many of us that we believed. That there was not going to be sufficient revenues to get her year and back we don't hear about 300 short the governor also made this sort comments. In his section then press conference. Many Republican members of legislature thought that it. Actually coming in at a higher level that would mean projected by budget but budget office. In fact it's common. Lower in some ways and what projected and so here we sit. And you know the middle of January what they joint budget meeting next week at the end of the weekend and facing a 300 million dollar shortfall. And only a few months left in the year to deal that. So we're we're looking at at this point because essentially news. You're mad that some members requested hoping that more revenue comment or now that's what march April may and June. It makes 304 million dollars sort of cuts which are about 76 million dollars a month. And and so clearly that's that's problematic. When you talk about that large a cut from state channel on standpoint. We have a couple of options one of those options include using the rainy day on the budget stabilization on witches. Widget and a bond that that collects access. Severance tax revenues. And is designed to assist us in getting through difficult times we all know that we continue to have low oil prices which means. Level. Lower. And and slower business climate in the web of services industry which leads to an additional unemployment. Which leads to lower individual income tax collections and lower corporate income tax collections and so. Largely. But not entirely that is being driven by continued difficulties in the oil field. But we also is still continue to suffer from a structural. From a structural tax and budget perspective. In that we continue to have these these deficits year after year as we continued to one studied these things and not take action. Last year we could have taken action that would solve this. Instead. Member requested attack sports events experts to review our our budget and tax structure and make recommendations. They've now made recommendations those recommendations a large. Bank that we offer last year. And so now the question as well. Well what those who control the majority. The legislature. Vote for these recommendations made by the export expert or not. And suddenly there's there's. I'm groups and they will not support using raining on which is available it's and the amount of about a 120 million. So that we would only have to make a 180 million Pakistan. That's sort of an overview. A bit what turned its lead. Are operating budget 2627. To. In net this year about 29 point 5000000012. Point one you know which most federal ons. Nine point six billion which is state general funds. Six point three billion of that nine point six. As quick non discretionary means that it was either dedicated or mandatory. Largely that's pork belly that is K12 education. On the leaves about three point one billion discretionary spending. State general fund dollars so we're talking about 304 million out of three point one billion. In that three point one billion. About two billion missed four. Department of health and hospitals. And about 900 million is for higher education. And so. I think that. And I think we have somewhere around 587. Now that's not education or health care related. And the general operating budget from which we can. Have mouton from which we have discretion look at these reductions. So. Craig. Is to. Well we're we're looking. Off in just twenty and five do. Lot of boos that ruled Monday load in the basic league three point one billion. That two million for a while now and and education. So. Did and it looked like a huge number. There's there's not much. So yeah that money without a leash. Yeah so and you know that the thing about the federal dollars I think I think that many think that that's just money that the federal government sort of sent down US. The reality is most of that is tied directly to health care services that are provided. And so neat you know someone receives health care service -- build generated for that the state pays a portion of that. And stand send out another portion of that to have health care provide it for providing that service so. The federal money is really designed for specific purposes and not able to be used them in other ways. And so. Yeah that is days that is a very large part and then. The arrested and the rest of the budget which is we talked such state general on talked about federal on. Also large amount of self generated on that are upbeat based you know like when we go to the officer motor vehicles and get a driver's license your feet. That's he has you know dedicated back in the off some motor vehicles that help operate at an educational. It also coached several million dollars of bees and self generated revenues that a pace for much of operation up. All right good limit dig bring cure womb we come back. What it's about blood in you and yours wanted to do and last session and they said no look studied some more use save their bird truly. Recommending the same thing led let's talk about what it's been recommended. And if you don't touch of bringing Dave poem brought out. Save us your questions this Texas all of the state budget once again with 300. Million plots deficit. Try and put them by Edward Kolb Bradley in just a couple months. Different cultures Sid 0187. Inning dubbed Bob yeah. Are welcome back once again. About paying. Deborah stood here and we gambled legislatures. Getting rid of its. Got a couple months to figure out what to do it is 300. Billion dollar plunged opposite. We have representative. Bowl and a ball you're saying that some of the in the past session. Had an ideas what to do. Others wondered to study did the study basically says do what she wanted to do get an fueled some of the Indian cultures. So a couple of the really big cancer relate. Income tax. We have a policy in the state of Louisiana that. Only you one or two other states have and it's called deductibility of federal income taxes paid. There's exits from provoked individuals. And for corporations. When it allowances. That whatever you pay and federal income tax either corporation earned individual. You don't get to deduct from. Your freedom and deduct from your comment the state level which which dramatically reduces the taxable income the state level. An accounting for about a loss of one point 225. Billion dollars a year to the state of Louisiana went coupled with another production access itemized deduction which. Allowed you to itemize a better term. And and and didn't get that deduction and then carry that down year state return is currently 100%. The access itemized deductions so. Any amount not allowed ever return can be brought stay return. The biggest problem with the policy on that. Deductibility of federal income tax is hated that it directly ties Louisiana's tax policy to Washington's cracked. And so. Whatever the taxes are an in Washington weathered an increased or decreased there's an impact on the revenue generated in our state. That's why 48 other states have walked away from this. Policy so. We actually it attempted to undo this as it relates to corporations. With a constitutional amendment lot this ball. That I handled and passed it was constitutional amendment number three fail. At this point only about. 17%. Of corporations in the state of Louisiana at any income tax our. 83%. Corporations and the state of Louisiana that your tax burden your report leader Ichiro income or loss. I think people got confused and thought. That many small businesses would have been impacted by that. Change the reality is that LLC these partnerships. Most small business owners. Thought they'd pay fair there income taxes through their individual parents. So unfortunately. After the policy down the polls last year we can come back and try to do that again. Essentially. What witnesses in his. You know we talked about this before back in 20082009. The legislature. Passed the largest in individual income tax cut and the history of the state. And hardly anyone noticed because they'd that because in the aggregate it was six or 700 million dollars maybe 890 now. But for individuals it was very small amounts. And so. These tax cuts didn't stimulate any growth in our state in emulating any investment in attract any new investment. And back we've continued. To decline in revenues at that time and so what with the task force called sport forced to look at. Moving back towards where we were in our tax structure at that time in 2002009. And they are not wreck. And you know we go all the way back to the levels that we are that we were at under the Stanley plan but they do you recommend moving back towards that level. And back they recommend implementing these reforms about deductibility of early on accessed data and access itemized deduction. And combining that with eight. Reduction of income tax rates. And so we would go from to force six to one point 5%. 3% and four point 5%. Which would make our highest taxed record for individuals reduce our 6%. At four point 5%. Furthermore on the corporate side we would have gone to a flat tax of six point 5%. Which would have improved our tax ranking what the Tax Foundation. Buy at a dozen or so open. I've governorship spot to them that doubt dramatically business friendly. Our ranking so these things are positives we can depend on experts say we should all of these bills are offered last session but were not. Taken up instead all we get past some temporary sales tax increases. Which in my annually immediate roll off of the books when you do something more you know structurally. Stabilizing like these reforms that are recommended by the expert panel. Go to government let alone yeah if you don't do bullets if you don't tapped the brain date on. A super loud speaker Barents. And it was petrol session week and he all the cuts were needed with the problem. Would herbal Inca. Sure sure we can but we would be forced to make them and higher education and healthcare the whole point of going in the special session. And that allowed you to open up the budget entirely. And and cut more with more precision instead of just butchering higher education and health care so yes. That is true we could do it outside of the special session photo being it would be catastrophic if we get. The reality is where we are right now are not what I was just coming on you were talking about. The new administration in Washington. And and president electron listing a number agencies. That he intends to close at the federal government level well. That's where we are in the state and so. The leadership of the legislature. Has every right to go through our budget and cut programs. Closing agencies but they've got to make a decision on what that is they can't just in India say that this. That there's no option we either can generate revenue in excess structural. Problem. Or we can make cuts or we can you go which is what we've been doing but we can't do nothing at all and continue to do the same thing. That represented his bow bald injury awards pleasure thank you Beckel are greater. Arrived good news flowed Schwartz's little bit it is. Or. A lot of analysts in the red state to name include. Say Cologne. I'm ready to cut government. Government will lead to big. Well via a web site. It's. Probably good news covering organization. In Washington. I think most considered to be liberal I was simply blow to liberal conservative because it's. Really don't seem to have anything anymore good irons to give both sides but. Regardless. There headlined today at their first big deadline prompting is preparing. But he from that. The departments of commerce and energy Robertson major reductions in funding. Programs. Of their jurors action I do being eliminated. Altogether. Or transferred to the regency. That Borman and transportation. Justice. And it's eight would seek significant cuts and program illumination. Reinforcing negative where you see a lot of cuts and joneses. But our home. Program here at the idea. Just two more sports on the least important soup that still want to. Corporation for Public Broadcasting. Would be odd to. National endowment for the arts and national endowment for the men. Would be eliminated. Entirely. Overall blueprint being viewed by the chrome team would reduce federal spending. By ten point 54 billion dollars. Over the next five years. What do you think. And when good things was news news. I'm all for coding problem. Until my. Ups get school. I know that it cares got a problem and Medicaid problem some skirt who's got problems. But. I don't want that here it. Because of blood and gore and what do you think you pour. The cut and big government. When it comes as certain things not so much. And Britain over into. Trump shorts and the office of management board and can be handled this. Soon to be petroleum board. The preliminary proposals. And white house budget office. We shared by the federal departments and agencies right after trump to actually you go bald this Friday. And could provoke and angry backlash. And and get it's not that interest in part. Trump's cabinet picks. Have yet to be apprised of the reform. Which would reduce resources. Within the regions. And when we come back. We come back from a mind reader and number I'll bring you testimony. Of trump departmental heads. Which cost for Dick. What trump has said he would do. And build on top of that. Now we're hearing about coach and there are agencies. They don't know about. Now again this news these it'll. I'm sure vigor bright board in the Drudge Report yeah she's something different. And towards something different. In case. The memo whose aides say they've gotten a hold or correct. Are you ready for some major major cuts. To as the journal the journal much more when we come back that's just the beginning. 200187. Double rubio wouldn't it. Our board they get about. President trumps the news for new reporting that to pre inauguration. Already memos out with a big big cuts in government what do you think it would school to go and slide a little part preacher. It. Me. And are twice at this time. And I liked it people. Europe. And increasing. People can afford it. In particular. The senate. Oh. While the country. Is not. An Iraq. So should. Not cut. It. Think a lot of people who agree with the book on it. If you've been looking at his cabinet choices. I don't think it's much drinking of the swamp below a number of hedge form operators won't through Jordan type billionaire. Can get a Dolan. With the very people dead or the 1%. In charge of the administration. Well. What. Picture of not only a tradition or. Elected with votes from Maryland. White working people. It. Continue to get their boat. I'm a Republican Party basically that the Democrats. That they represent the middle class this well. And it sucked at them decide what candidate. And that's why have or are reasonably well violence. I'm in favor controlling immigration. And and. I. And a whip out the problems where. Where. The black black. I. Bankrupted blowing there apportion what Japanese police. Are shooting people that. Again sure. What kind of. Well approach a policeman protecting. Basically. The Democratic Party. Become an. Well Chiluba I can't debate black oil matter Brigham of the subdued Tuesday by a every everything coaches. I'm with you I'm a more than those that did that vote for for. Kind of made. In Adam made bottom of the ball was drew. It's tweets about Merrill's reboot now it's all wouldn't. When Bloomberg a problem with the color and I x.s and everything notes. Bought it some things he's swore you know I hear a undocumented. Aliens. LS symbol the I really don't appeal bad for the people. That rolling from abject poverty. And and and violence. But it's still illegal. Immigration. And if if somebody from Arlen. Somebody from brand some bird from Australia. Is trying to yet here. They got to get in Iowa. Ended takes quite a while and they've got a drum to rule comfortable. And if we had every block that just flown Tuesday. Among undocumented. Alien to fly to Mexico and walk across its border. We gonna have problem like Germany Britain for a big charts can't handle low. So there's there's a number of things moved from that I do agree wit. When it comes to making the 01%. Pay more. Moon even crawl. Real intends to do. Did did the Jewish my opinion. And all the billionaire. Wall Street Journal and headphone corporate. That attempts to end these wooden head of departments in his administration. Then. What ever pro boards do we have some debt through congress in its. And there's a total one per standards. And rich people. And people. That are holding all. In order to get to. Where a blade they can gore in and start lobbing. And become. The 1%. We've got a liberal politicians did jaws that. So the question becomes. Even of trump is sincere. With what he's putting together. Would want it once did. And the 20017. Gibbs call them. We're gonna continued. Conference or genetics four. Croak inauguration. And well talk about what we've been talking about weapons or go to the hill when it. From team prepares its room that carts. Who's seeing how many things are gonna cut. But here's an interest in paragraph. It's clear what the chrome for its budget will include reforms to social security. And and and he is suitable for use as mark Cottam. But. Leaders in the Jew do you have its. They've got because. If you were serious. About reducing the up close. You've got to cut the phones to program. And it's a little bit conservative it's. Totally reports alleged security and Medicare. So we'll talk about that more and nets coming up but in the mean time. Tumbled 1000 dollar an image from what were you money cash contest. The code words it's our schools CL. OSE. Weren't disclosed CO well we're at its. Tech students settled into a 3172. EG one. What a thousand bucks want to actually listened to the Mexico border with top of the hour news to them. We don't charge with the sex with individual play and to exceed average to apply please don't Texan broad number code words there's so. It's low it's.