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Louisiana income forecast grows, giving lawmakers more to spend

Louisiana income forecast grows, giving lawmakers more to spend 5 hours 9 minutes 22 seconds ago Wednesday, May 19 2021 May 19, 2021 May 19, 2021 5:37 AM May 19, 2021 in News Source: Associated Press Share: BATON ROUGE, La. (AP) Already flush with federal cash, Louisiana’s budget picture brightened again Tuesday, with the state’s income forecasting panel estimating $677 million in tax collections above expectations should flow into the treasury over the next 14 months. The Revenue Estimating Conference increased the estimate for general state tax collections in the current budget year that ends June 30 by $357 million. The panel also increased the general fund forecast for the upcoming budget year that begins July 1 by $320 million.

La income forecast grows, giving lawmakers more to spend

La. income forecast grows, giving lawmakers more to spend MELINDA DESLATTE, Associated Press FacebookTwitterEmail 3 1of3Economist Stephen Barnes, left, and Senate President Page Cortez, R-Lafayette, both members of the Revenue Estimating Conference, review income projections ahead of the conference s meeting Tuesday, May 18, 2021, in Baton Rouge, La. The conference increased the income forecast for the current and upcoming budget years, giving lawmakers more money to spend.Melinda Deslatte/APShow MoreShow Less 2of3From left, economist Stephen Barnes, Senate President Page Cortez, House Speaker Clay Schexnayder and Commissioner of Administration Jay Dardenne, the four members of the Revenue Estimating Conference, talk ahead of the conference s meeting Tuesday, May 18, 2021, in Baton Rouge, La. The conference increased the income forecast for the current and upcoming budget years, giving lawmakers more money to spend.Melinda Deslatte/APShow MoreShow Less

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