INDReporter

Income tax repeal diverted to committee

by Walter Pierce

Senate Bill 259 would phase out the income taxes on personal and corporate income over several years, costing the state treasury an estimated $1.7 billion in revenue over five years. State Senators Wednesday voted to send a bill that would repeal personal and corporate income taxes to a committee for more review, a move the bill's author, Sen. Rob Marionneaux, D-Livonia, characterized as a means of killing the bill, according to Gannett's Mike Hasten.

Senate Bill 259 would phase out the income taxes on personal and corporate income over several years, costing the state treasury an estimated $1.7 billion in revenue over five years. The Senate got snagged Wednesday during debate over amendments to the bill, including one by Marionneaux that would spread the phase-out over 10 years.

"This is our chance to change Louisiana," Marionneaux said, according the Hasten's report, while urging the Senate to vote on his bill and not send it to the Senate Finance Committee. "If you choose not to (vote on his bill), it's business as usual."

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