Proposed Amendment No. 2 - NO. 2 (ACT 134, 2021 - SB 159)

Summary

Do you support an amendment to lower the maximum allowable rate of individual income tax and to authorize the legislature to provide by law for a deduction for federal income taxes paid? Present Constitution provides that the state individual and joint income tax schedule of rates and brackets shall never exceed the rates and brackets on January 1, 2003 as set forth in Title 47 of the Louisiana Revised Statutes. Further provides that federal income taxes paid shall be allowed as a deduction in computing state income taxes for the same period. Proposed Constitutional Amendment provides that the maximum state individual rate shall not exceed four and three-quarters percent for tax years beginning after December 31, 2021. Further provides that federal income taxes paid may be allowed as a deduction in computing state income taxes for the same period as provided by law.

A "YES" vote supports an amendment to lower the maximum rate of individual income tax and a deduction for federal income taxes paid

A "NO" vote opposes an amendment to lower the maximum rate of individual income tax and a deduction for federal income taxes paid

Arguments

"The tax swap would trade a longstanding federal income-tax deduction for lower tax rates on people and corporations, with the biggest rate cuts going to those with the highest incomes. The package could also dramatically harm the state budget through mandatory income tax rate reductions if and when the economy does better than expected, leaving less money for education, health care and transportation." - The Louisiana Budget Project, in opposition to Proposed Amendment No. 2 (Learn more)

"Lowers individual and corporate income tax rates by eliminating or adjusting current tax deductions in a way that is generally revenue neutral to the state and taxpayers." - The Council for A Better Louisiana, in support of Proposed Amendment No. 2 (Learn more)

Measure Details