Edwards signs business tax breaks passed in special session
BATON ROUGE, La. (AP) — Gov. John Bel Edwards has signed into law the full multimillion-dollar package of business tax breaks that lawmakers passed in their June special session as a coronavirus recovery effort.
The Democratic governor agreed to temporarily suspend part of the corporate franchise tax for one year, to give a sizable tax break to the state’s casinos, and to expand tax credit programs that lawmakers previously curbed as giveaway programs that didn’t benefit the state.
Republican lawmakers who sponsored the bills described the credits and exemptions as a needed boost to help businesses struggling with coronavirus closures and restrictions. Opponents called the bills a giveaway to businesses that will worsen budget uncertainty.