May 17, 2011 05:22

If they become law, the bills would go into effect next year and would drain the state budget of a projected $14.8 billion over the first five years of implementation.

The House Ways and Means Committee on Monday advanced a pair of bills by a Baton Rouge Republican state rep that would repeal the income taxes on both personal and corporate income. If they become law, the bills by Rep. Hunter Greene, the committee's chairman, would go into effect next year and would drain the state budget of a projected $14.8 billion over the first five years of implementation.

State solons are currently grappling with a $1.6 billion budget shortfall.

Read more here.

 

Read the flipping paper