Louisiana’s fiscal health ranks 33rd best among the states and Puerto Rico, according to a 2016 report by the Mercatus Center at George Mason University.
All findings of the 2016 Index considered, the regimen for Louisiana is clear. Louisiana needs to adopt more fiscally responsible policies, including a tax policy overhaul if it wants to improve its Economic Outlook and become more hospitable to individuals and businesses.
But raising the state sales tax without reducing other taxes will just knock the state of its top-five states for taxes and distance itself from the leaders in the country.
What if the states could advance and ratify a powerful federal balanced budget amendment in just twelve months? It could happen with a new approach to state-originated amendments under Article V of the United States Constitution.