Tulane economists Steven M. Sheffrin and James Alm and Louisiana State University economist Jim Richardson met with Louisiana legislators on Tuesday, March 10, to discuss proposed changes to the tax structure in the state of Louisiana.
The Speaker of the House commissioned a comprehensive analysis of the existing tax structure that was put in place in 1973, and the team of economists has been studying Louisiana’s tax structure since, with the help of graduate and undergraduate students at Tulane University and Louisiana State University and with support from the Murphy Institute at Tulane University.
The changes that the authors of the Louisiana Tax Study recommended are intended for the long run, but parts of the reform plan could potentially raise more than $700 million if implemented this upcoming legislative session.
Among the recommendations were:
Established in memory of Charles H. Murphy, Sr. (1870-1954), and inspired by the vision of Charles H. Murphy, Jr. (1920-2002), The Murphy Institute exists to help Tulane faculty and students understand economic, moral, and political problems we all face and think about. More important, it exists to help us understand how these problems have come to be so closely interconnected.