Our 501 (c)(4) partner organization, Unleash Prosperity Now (UPN), has been helping state legislators and governors devise a plan to eliminate their state income tax. Mississippi Governor Tate Reeves wants to put his state’s tax on a glide path to zero. Georgia Governor Brian Kemp signed a significant income tax cut this year and promises more. Same with North Dakota Governor Doug Burgum.
Louisiana Governor Jeff Landry may beat them to it. He has called a special session of the legislature to set the income tax on a path to repeal by 2030. UPN will be headed to Baton Rouge in the weeks ahead to help make it happen.
Landry’s proposed Phase One would eliminate income tax for anyone earning less than $12,000 and set a flat rate of 3% for all income above that. He would also repeal the corporate income tax and eliminate the tax on prescription drugs.
He would replace the revenue with the economic growth lower taxes would bring and by reducing the mind-boggling 223 exemptions to the state sales tax. He would start by taxing lobbying, dog grooming, and car washes.
Our own research at Unleash Prosperity finds that the states with no income tax are growing as much as twice as fast as the high-income tax states.
We can’t think of a state that needs faster economic and job growth more than Louisiana.