Govenor Edwards, House Speaker Barras to meet ahead of Louisiana ‘Fiscal Cliff’

Louisiana Governor John Bel Edwards is set to meet this week with House Speaker Taylor Barras. During this meeting they will undoubtedly discuss the so-called Louisiana “Fiscal Cliff” which represents a drop, scheduled for next year, where temporary taxes collide with tax revenues to create an estimated $1.5 billion shortfall.

Governor Edwards is hoping to address this shortfall before the beginning of the next fiscal year, which begins on July 1st, 2018. Members of the house under Speaker Barras’ leadership have been unwilling to embrace the governors budget and tax plans since early 2016, however the first big question that needs to be answered is ‘Will the Governor hold a special session?’.

Unless Speaker Barras and the Louisiana House can get behind a plan, the legislature may have to wait until after regular session to pass a budget with a $1.5 billion shortfall and no new revenue.