[StBernard] Governor Blanco urges support for tax relief

[Westley Annis]

Highlights of the Governor's Tax Relief Package
http://www.gov.state.la.us/taxrelief/
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axrelief/> 	
BATON ROUGE, La. - Aiming to jump start Louisiana's damaged economy,
Governor Kathleen Babineaux Blanco urged members of the Legislature's House
Ways and Means Committee to support an array of tax cuts for businesses and
individuals. 

Addressing members of the committee on Tuesday, Governor Blanco reminded
them that hurricanes Katrina and Rita have damaged or closed more than
80,000 businesses, scattered hundreds of thousands of residents across the
nation, and left a $1 billion hole in the state's budget.  

"Despite that, I know it's important to forgo even more revenue, in the
short term, to get our businesses back on their feet, in the long term,"
Governor Blanco told the committee. "This package of tax cuts is aimed at
doing that." 

Governor Blanco urged the committee to support her tax relief package that
includes: 

*	A one-day sales tax holiday to help businesses and consumers. (HB
42) Economic estimated value for consumers is $3 million
*	Revamping the Louisiana tax structure to avoid state taxes to
recipients of federal disaster tax credits. (HB 24) 
*	Eliminating the sales tax on manufacturing machinery and equipment
for impacted businesses. (HB 39) Economic value for impacted businesses is
estimated at $4 million 
*	Eliminating the corporate franchise tax on business debt for
hard-hit businesses in the affected parishes. (HB 41)  Department of Revenue
estimates economic impact at $12.9 million 
*	Cutting industry taxes on electricity and natural gas. (HB 40)
Economic relief to businesses is valued at $21 million.  

Governor Blanco told the committee that the tax-relief package will be a
strong addition to the self-help measures the state has initiated in the
aftermath of the two hurricanes. 

"We have done much in the last weeks and months to help ourselves," Governor
Blanco said. "These bills are important for our families and our businesses.
They also show the critics and our allies in Washington that are taking care
of ourselves. Passing this package is another way that Louisianians will
rebuild Louisiana." 

### 

The Louisiana Disaster Recovery Foundation (LDRF), Louisiana's fund for
Louisiana's people, has been established by Governor Kathleen Babineaux
Blanco in order to support long-term family restoration and recovery and
help provide assistance to our citizens in need through a network of
Louisiana charities and non-profit agencies. 

1-877-HELPLA1 (877-435-7521) www.louisianahelp.org