Lawmakers returned to the capitol last night to begin a 30-day special session, aiming to prevent a looming tax increase and give themselves more say in how the state reopens its economy. Roughly 350,000 Louisianans remain jobless because of the coronavirus. The state’s $1.1 billion dollar savings account for unemployment insurance payments is expected to run out of money during the first week in October. If the account balance remains below $100 million, the state will have to borrow money from the federal government to ensure unemployed Louisianans still receive payments. The move would trigger an automatic tax increase on businesses while reducing the state’s maximum weekly unemployment payment to $221, the nation’s lowest rate.
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