Louisiana House Hears Testimony from ALEC’s Jonathan Williams on Tax Restructure
Reducing personal income taxes, broadening the tax base, and maintaining spending discipline are the key to Louisiana's future.
Last week, the Louisiana House Ways and Means Committee heard testimony from ALEC Chief Economist and Executive Vice President of Policy Jonathan Williams on addressing the state’s long-term economic challenges and exploring solutions for sustainable growth. Williams’ remarks were highlighted by The Center Square:
“Louisiana is in a very competitive region. You’ve had to deal with the competition with Texas being a zero personal income tax state. You’ve seen that with Tennessee, another no-personal-income-tax state,” said Jonathan Williams, ALEC’s chief economist and executive vice president of policy, mentioning that predictability is crucial for business and individuals.
“One of the big takeaways from the tax cut revolution has been states moving away from a graduated personal income tax…to a flat tax.”
According to Williams, Texas and Florida — both of which have no personal income tax — saw a net increase of 200,000 taxpayers. North Carolina, whose business income tax will hit zero by the end of the decade, saw an increase of 100,000 in the last 12 months.
“In the last 12 months alone, nearly 30,000 residents have left Louisiana,” Williams said.