Friday, December 15, 2006

Tax cuts revived in La. Senate committee

BATON ROUGE, La. -- A state Senate committee went on a tax break binge on Thursday, moving to create a weeklong "sales tax holiday," give parents a $125 tax credit and create tax cuts for businesses, as a legislative session wound through its final days. It's unclear how much of the proposed tax relief will get enough support to make it through the full Legislature, as some lawmakers wonder whether the state can afford to lose the hundreds of millions of dollars in sales tax revenue. The bills move to the Senate floor for debate, then will need approval from the House. Rep. Taylor Townsend, sponsor of a business tax break bill, predicted that lawmakers will probably argue over and change the measures further. He questioned whether the state could afford all the cuts in tax revenue _ what he estimated would be a $455 million reduction.

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