LSU Manship School News Service
A cautious revenue forecast was adopted by a panel of state leaders Tuesday as they set income projections used to create the stateâs budget.
While the forecast for fiscal year 2022 adopted by the Revenue Estimating Conference predicted a slow economic recovery and more money into the state coffers, it also predicted there will be $228 million less for the state than previously forecast.
Tax collections from the next fiscal year, which starts June 30, will increase by almost $115 million from the projected total for this year. However, that will not be enough to offset the loss of almost $800 million in federal funds. In addition, $90 million from the state rainy day fund used to patch up holes in the previous budget will not be available.
Louisiana s state Capitol was closed Wednesday “in an abundance of caution” as a precaution to possible protests of the federal inauguration of President Joe Biden in Washington, D.C.
As of 11:35 a.m. Wednesday, there were no protesters visible on the grounds, but there have been numerous peaceful demonstrations at the Louisiana Capitol from supporters of former President Donald Trump since the Nov. 3 election.
Following was the directive from House Speaker Clay Schexnayder, R-Gonzales, and Senate President Page Cortez: To help facilitate security at the Capitol and out of an abundance of caution regarding the unknowns surrounding the federal inauguration, the speaker and the president have directed the close of the Capitol.
BATON ROUGE - A cautious revenue forecast was adopted by a panel of state leaders Tuesday as they set income projections used to create the state’s budget.