After Special Session Tax Overhaul, Louisiana Lawmakers Are No Longer Staring at a Huge Deficit

NOLA.com [12/19] – Heading into the next budget year, state lawmakers will no longer be staring down the threat of a budget shortfall to the tune of hundreds of millions of dollars. The reversal of circumstances is the result of a two-week special session in November during which they approved major changes to the way Louisiana generates and allocates tax revenue. Rather than a projected state budget deficit totaling nearly $340 million, state lawmakers are now expected to have a surplus of state funds for the upcoming budget year that begins in July. Cont.