Legislators adjourned the 3rd Special Session of 2024 ahead of schedule adopting several bills focused on improving Louisiana’s tax structure and returning more money to its citizens. Lawmakers had until Monday, at 6:00 p.m. to complete their work on tax reform, but instead finished just before 3:30 pm today.
Legislation headed to the governor’s desk for signature includes but is not limited to reducing both personal and corporate income taxes for everyone, doubling the standard tax deductions for seniors, getting rid of the state’s corporate franchise tax, making permanent a $2,000 teacher pay raise and advancing a constitutional amendment giving lawmakers more flexibility to reduce taxes in the future.
“Improving Louisiana’s tax policies optimizes our state for growth,” said Senate President J. Cameron Henry. “The package of bills we delivered to the Governor will undoubtedly stimulate economic growth and change the state’s overall trajectory. I’m proud of the hard work of the Senate and appreciate our lawmakers for taking the time to come back to Baton Rouge to stabilize our budget ahead of 2025.”