(orignally published by WAFB)
Senate decides to study income tax repeal
Jun 7, 2011 5:37 PM
BATON ROUGE - Senators are considering whether to repeal Louisiana's personal and corporate income taxes.
The Senate held a Tuesday debate on Democratic Sen. Rob Marionneaux's idea, which would drain billions annually upon the complete removal of the taxes after 10 years.
Marionneaux previously suggested he would recommend the removal of other tax exemptions to cover some of the lost money, but he didn't offer that proposal Tuesday.
The income tax repeal has gained more traction than originally expected. Marionneaux describes the effort as a way to keep younger residents from moving away and give people more money to spend boosting the economy. Critics say the state can't afford the revenue loss.
Gov. Bobby Jindal says he isn't taking the proposal seriously, but hasn't issued a veto threat.
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