You and I know all too well how many families across Louisiana have had to say goodbye to kids, grandkids, friends and other family members who have left to find better jobs in, well, Houston. And Dallas, and Nashville, and Orlando, and on and on the list goes.

The Pelican Institute’s Comeback Agenda is focused on solving that problem by bringing our friends and family back home to a thriving economy with abundant, high-paying jobs, educational freedom, and meaningful regulatory reforms that remove barriers to opportunity. Today, we released the next major component of the Comeback Agenda: a detailed plan to phase out the income tax, simplify the tax code, and, importantly, restrain government spending.

This last part is so critical. The total state budget has grown by more than 80 percent in the last decade, all while so many Louisiana families tightened their belts and worked harder to make ends meet. That’s why any tax reform plan must include real spending reductions and an expenditure limit with teeth to ensure we don’t get to this place again in a few years by continuing to grow government beyond what taxpayers can afford.

The governor announced Monday he’s calling a special session to address fiscal reforms. It’s so encouraging to see and hear the enthusiasm to make bold changes. But rest assured the special interests and status quo forces will fight like crazy to kill any reform.

That’s why we need you! We’ll be sharing updates, information, videos, and other infographics here in email and on our social media accounts over the next few weeks in the lead up to the November session.

I hope you’ll share them with friends and neighbors and help rally support for big, bold changes and restrained spending!

And when the time comes in the legislature we’ll make sure you have all the information and ability to weigh in with your lawmaker (though it’s always a good time to do that!).

Read our latest policy report on Fiscal Reform to Write LA’s Comeback here. And below, you’ll find our release about the plan…

New Orleans, LA—Today, the Pelican Institute for Public Policy released a fiscal reform proposal aimed at jumpstarting Louisiana’s economy, creating jobs, and reversing the trend of outmigration. This comprehensive plan seeks to flatten and simplify the state’s complex tax code while beginning a phase-out of income taxes.

The proposal’s two main components include a phased elimination of income taxes and the introduction of a meaningful expenditure limit to constrain state spending growth in line with population growth and inflation rates—an essential component to achieving long-lasting positive effects.

“We all talk about what legacy we’re going to leave,” said Pelican Institute CEO Daniel Erspamer. “Sadly, all too often here in Louisiana, our legacy is leaving. That’s why we need bold reforms to turn things around and to bring our kids and grandkids home. Especially given the governor’s announcement today, it appears consensus is forming around really getting the state’s fiscal house in order.”

According to a dynamic score conducted by the Economic Research Center, the reforms outlined in the new report are projected to add 5,000 new jobs and generate $2 billion in new economic activity within the first year of implementation.

“Bold, but common-sense, budget and tax reforms demonstrably lead to economic growth,” said Jamie Tairov, the report’s author. “Families across Louisiana have been tightening their belts in response to higher taxes over the last decade combined with recent soaring inflation. Government can and should do the same in order to create a tax code that actually works for Louisiana’s families and businesses.”

A poll conducted last fall by the Institute revealed that 58% of Louisiana voters favored the elimination of the state’s income tax. Additionally, 66% supported reducing state spending to achieve this goal.

“All too often,” continued Erspamer, “policy reforms are aimed at solving the government’s problems. Sensible fiscal reforms should first solve Louisiana families’ challenges.”

The full report is available here.