Gov Edwards: A Budget Surplus is a Good Thing
Governor John Bel Edwards says Louisiana finished the fiscal year that ended June 30th with a budget surplus of approximately $300 million. Edwards says the state's economy is performing better than what the Revenue Estimating Conference predicted.
"Corporate and personal income taxes appear to be higher than forecasted and we hope this is an indication of a continuing trend where we are going to see the economy improve," said Edwards.
Critics of the Edwards administration say the surplus shows the legislature didn't need to renew millions of dollars in temporary sales taxes earlier this year.